October 28, 2009 / 8:46 PM / 10 years ago

UPDATE 1-Harmonic Q3 results miss estimates, sees weak Q4 rev

* Q3 adj EPS $0.05 vs est $0.06/shr

* Q3 rev $83.9 mln, down 8 pct

* Sees Q4 rev $80 mln-$86 mln vs est $90.2 mln

Oct 28 (Reuters) - Harmonic Inc (HLIT.O) posted a quarterly profit that missed market estimates, hurt by lower sales in the United States, and forecast fourth-quarter revenue below expectations.

“We continue to see cautious customer spending compared to last year,” Chief Executive Patrick Harshman said in a statement.

The company, which provides fiber optics products that enable video-on-demand services, forecast fourth-quarter revenue at between $80 million and $86 million.

Analysts on average were expecting fourth-quarter revenue of $90.2 million, according to Thomson Reuters I/B/E/S.

Net income for the third quarter ended Oct. 2, was $2.6 million, or 3 cents a share, compared with net income of $12 million, or 12 cents a share, a year ago.

Excluding special items, the company earned 5 cents a share, below analysts’ estimates of 6 cents a share.

Revenue fell 8 percent to $83.9 million, missing analysts’ expectations of $85.8 million.

Revenue from the United States fell 28 percent to $40.3 million.

Shares of the Sunnyvale, California-based company closed at $5.94 Wednesday on Nasdaq. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Unnikrishnan Nair)

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