HARMONIC INC Reports Revenue of USD 156.0 Million in Q2 of Fiscal Year 2023, Down 0.9% Y-o-Y
August 14, 2023
☀️Earnings Overview
On July 31 2023, HARMONIC INC ($NASDAQ:HLIT) reported total revenue of USD 156.0 million for the second quarter of the fiscal year 2023, representing a decrease of 0.9% from the same period of the prior year. Meanwhile, net income for the quarter came in at USD 1.6 million, a decline of 89.5% from the same period in the year prior.
Analysis
GoodWhale conducted a fundamental analysis of HARMONIC INC‘s, and the Star Chart categorized it as a ‘gorilla’. This type of company generally has strong competitive advantages, enabling it to achieve stable and high revenue or earnings growth. Those investors who value long-term and consistent growth are likely to be interested in HARMONIC INC. The Star Chart also showed that HARMONIC INC is particularly strong in growth and profitability, medium in asset, and weak in dividend. With an intermediate health score of 6/10, the company is likely to be able to pay off debt and fund future operations. This makes it a viable investment option for those who want steady returns. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Harmonic Inc. More…
| Total Revenues | Net Income | Net Margin |
| 633.68 | 21.52 | 3.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Harmonic Inc. More…
| Operations | Investing | Financing |
| 0.88 | -7.58 | -45.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Harmonic Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 690.35 | 347.55 | 3.08 |
Key Ratios Snapshot
Some of the financial key ratios for Harmonic Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.5% | 113.3% | 7.6% |
| FCF Margin | ROE | ROA |
| -1.1% | 8.9% | 4.4% |
Peers
The company has been competing against its competitors, Radiation Technology Inc, Teleste Oyj, and Eutelsat Communications, for the past several years. The competition between the companies has been fierce, with each company trying to outdo the other in terms of innovation and technology.
– Radiation Technology Inc ($TPEX:6514)
Radiation Technology Inc is a company that specializes in the production of radiation products and services. The company has a market capitalization of 1.45 billion as of 2022 and a return on equity of 13.65%. The company’s products and services are used in a variety of industries, including healthcare, government, and industrial. Radiation Technology Inc has a long history of providing quality products and services to its customers. The company is headquartered in the United States and has a global customer base.
– Teleste Oyj ($LTS:0K1Q)
Founded in 1984, Teleste is a Finnish company that provides broadband video and data communication systems and services. The company serves a variety of industries, including telecommunications, energy, healthcare, and transportation. Teleste has a market capitalization of 61.06 million euros as of 2022 and a return on equity of 3.58%. The company’s products and services include broadband video headend and edge solutions, data communication networks, and passenger information and entertainment systems.
– Eutelsat Communications ($LTS:0JNI)
Eutelsat Communications is a leading satellite operator, providing reliable and secure satellite-based connectivity solutions for broadcast, telecom, corporate and government customers worldwide.
Eutelsat Communications has a market capitalization of 2.16 billion as of 2022 and a return on equity of 9.77%. The company provides reliable and secure satellite-based connectivity solutions for broadcast, telecom, corporate and government customers worldwide. Eutelsat Communications is headquartered in Paris, France.
Summary
Harmonic Inc reported total revenue of USD 156.0 million for Q2 2023, a slight decrease of 0.9% compared to the same period in the previous year. Meanwhile, net income dropped significantly by 89.5% year-over-year to USD 1.6 million. This could be a cause of concern for potential investors, as it indicates weak financial performance. Nevertheless, further analysis is necessary in order to assess the long-term prospects of Harmonic Inc, such as considering the company’s competitive position, business strategy, and industry dynamics.
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