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Sour Notes From Harmonic
By Stephen D. Simpson, CFA
April 25, 2005

At first blush, some investors might be tempted to think that broadband-solutions provider Harmonic Lightwaves (Nasdaq: HLIT) had a pretty good quarter.

After all, weren't sales up 32% to $73 million, and didn't net income of $1.7 million reverse a year-ago loss? Well, yes, but the trouble comes from those pesky Wall Street analysts. See, while the company posted income of $0.05 a share (before items), the analysts' average estimate for the quarter was $0.09...
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