Harmonic Inc. Files 8-K: Financials, Director Changes
Ticker: HLIT · Form: 8-K · Filed: Apr 8, 2024 · CIK: 851310
| Field | Detail |
|---|---|
| Company | Harmonic Inc (HLIT) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-results, board-changes, officer-compensation
Related Tickers: HLIT
TL;DR
Harmonic Inc. 8-K: Financials updated, director out, new director in.
AI Summary
Harmonic Inc. filed an 8-K on April 8, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of a director, the election of a new director, and updates regarding compensatory arrangements for certain officers. Additionally, it included financial statements and exhibits.
Why It Matters
This filing provides investors with crucial updates on Harmonic Inc.'s financial performance and significant changes in its board of directors, impacting governance and strategic direction.
Risk Assessment
Risk Level: low — This is a routine 8-K filing reporting on financial results and board changes, not indicating immediate operational or financial distress.
Key Players & Entities
- HARMONIC INC (company) — Registrant
- April 8, 2024 (date) — Date of earliest event reported
- 4300 NORTH FIRST STREET (address) — Business address
- SAN JOSE (city) — Business address city
- CA (state) — Business address state
- 95134 (zip_code) — Business address zip code
- 4084906242 (phone_number) — Business phone
FAQ
What specific financial results are being reported by Harmonic Inc. in this 8-K?
The 8-K filing indicates that it reports on the 'Results of Operations and Financial Condition' of Harmonic Inc., but the specific financial figures are detailed within the accompanying financial statements and exhibits, which are part of the filing.
Who is the departing director from Harmonic Inc.?
The filing mentions the 'Departure of Directors or Certain Officers' but does not explicitly name the departing director in the provided text snippet.
Who is the newly elected director at Harmonic Inc.?
The filing states the 'Election of Directors' but does not provide the name of the newly elected director in the provided text snippet.
What is the primary business of Harmonic Inc. according to the SIC code?
Harmonic Inc. is classified under STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663].
When was Harmonic Inc. incorporated and what is its fiscal year end?
Harmonic Inc. was incorporated in Delaware and its fiscal year ends on December 31 (1231).
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 10.2 · Accepted 2024-04-08 16:40:05
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share HLIT The NASDAQ Global Select
Filing Documents
- hlit-20240408.htm (8-K) — 32KB
- hlit-20240408pressrelease.htm (EX-99.1) — 19KB
- logopra07a.jpg (GRAPHIC) — 7KB
- pressreleasea29a.jpg (GRAPHIC) — 2KB
- 0000851310-24-000028.txt ( ) — 194KB
- hlit-20240408.xsd (EX-101.SCH) — 3KB
- hlit-20240408_lab.xml (EX-101.LAB) — 21KB
- hlit-20240408_pre.xml (EX-101.PRE) — 12KB
- hlit-20240408_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On April 8, 2024, Harmonic Inc. (the "Company") issued a press release updating its first quarter 2024 revenue guidance, previously provided in the Company's press release issued on January 29, 2024 announcing the Company's fourth quarter and fiscal 2023 results. The Company is scheduled to report its first quarter 2024 financial results on Monday, April 29, 2024. A copy of the press release is furnished as Exhibit 99.1 hereto, and the information in Exhibit 99.1 is incorporated herein by reference. The information in this Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and this Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 furnished herewith shall not be incorporated by reference into any filing by Harmonic under the Securities Act of 1933, as amended, or under the Exchange Act.
02 Departure of Certain Officers; Appointment of Certain Officers
Item 5.02 Departure of Certain Officers; Appointment of Certain Officers On April 8, 2024, the Company announced that Patrick Harshman, the Company's President and Chief Executive Officer ("CEO"), will retire as CEO, effective as of June 11, 2024 (the "Effective Date"). Nimrod Ben-Natan, currently Senior Vice President and General Manager of the Company's Broadband business, has been appointed as CEO of the Company by the Company's board of directors (the "Board"), effective as of the Effective Date. Mr. Ben-Natan joined the Company in 1996, was named Vice President of Product Marketing, Solutions and Strategy in 2007, and was appointed Senior Vice President and General Manager, Cable Products, in June 2012. From 1993 to 1996, Mr. Ben-Natan served as an Embedded Software Engineer at Orckit Communications Ltd., a digital subscriber line developer. Previously, he worked on wireless communications systems while he was with the Israeli Defense Signal Corps from 1988 to 1993. Mr. Ben-Natan holds a B.A. in Computer Science from Tel Aviv University. At this time, there are no new compensation arrangements for Mr. Ben-Natan or Mr. Harshman. A press release announcing the CEO transition is attached hereto as Exhibit 99.1 and is incorporated into this Item 5.02 by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release of Harmonic Inc. dated April 8, 2024, entitled "Harmonic Announces CEO Succession." 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 8, 2024 HARMONIC INC. By: /s/ Walter Jankovic Walter Jankovic Chief Financial Officer