* Q2 adj EPS $0.09 vs est $0.07
* Rev from video processing product boosts Q2
* Sees Q3 rev of $95-$98 mln, tops Street view
* Shares up 7 pct after the bell
July 29 (Reuters) - Harmonic Inc (HLIT.O) reported quarterly profit that beat Wall Street estimates, helped by a 31 percent jump in revenue from its video processing product, and forecast strong full-year revenue, sending its shares up 7 percent.
Net income for the second quarter was $4.4 million, or 5 cents a share, compared with a net loss of $7.9 million, or 8 cents a share, in the year-ago period.
Excluding items, earnings were 9 cents a share.
Net revenue for the quarter rose 18 percent to $95.5 million, the provider of fiber optics products that enable video-on-demand services said in a statement.
Analysts on average were expecting earnings of 7 cents a share, on revenue of $90.4 million, according to Thomson Reuters I/B/E/S.
“Second-quarter results (were) driven by the growing worldwide investment in new high definition services,” Chief Executive Patrick Harshman said.
Revenue from the company’s video processing product rose to $50.0 million, from $38.3 million in the year-ago period.
For 2010, the company expects revenue of in a range of $370 million to $375 million. Analysts were looking at $363.7 million. [ID:nWNAB1320]
Shares of the Sunnyvale, California-based company were trading up 43 cents at $6.40 after the bell. They closed at $5.97 Thursday on Nasdaq. (Reporting by Sweta Singh in Bangalore; Editing by Unnikrishnan Nair)