[Satellite Today 05-06-09] End-to-end broadcasting solutions provider, Harmonic, said it suffered heavy losses in its 2009 first quarter financial report released May 5.
    The company’s CFO, Robin Dickson attributed the 22 percent drop in Harmonic’s revenues, at $67.8 million, to compounded losses in orders between the last two quarters. “As you may recall our bookings in the fourth quarter were down significantly from the third quarter and we saw another albeit smaller decline in bookings in [the first quarter of 2009]. Orders started to pick up in March but not as strongly as the historical seasonal pattern with consequent impact on our Q1 revenue. In April we’ve seen a more robust pace of orders giving us optimism that we hit the bottom during Q1,” said Dickson.
    Harmonic reported first-quarter net loss of $18.8 million, or 20 cents per share, compared with net income of $13.4 million, or 14 cents per share, in 2008. The company predicted second-quarter revenues of $72 million to $78 million and adjusted gross margins of 47 percent to 49 percent.