Harmonic reports Q1 non-GAAP EPS 0c, consensus (1c)

Reports Q1 revenue $122.1M, consensus $121.7M. Reports Q1 record backlog and deferred revenue of $677.8M. “Our Q1 results were within our guidance range and largely driven by our Broadband business,” said Patrick Harshman, president and CEO of Harmonic. “Based on these results, our record backlog and deferred revenue, and our restructuring actions in Video to address market conditions and improve long-term growth and profitability, we are reaffirming our full year Broadband revenue guidance while increasing Video full year EBITDA guidance.”