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HARMONIC: Harmonic announces record fourth quarter and year-end results
Wed Jan 26 12:28:00 EST 2000




JAN 26, 2000, M2 Communications - Harmonic Inc. (Nasdaq: HLIT) today
announced its results for the quarter and year ended December 31, 1999.

For the fourth quarter of 1999, Harmonic reported net sales of $63.3
million, up 134% from $27.1 million for the fourth quarter of 1998. Net
income for the fourth quarter of 1999 was $10.8 million or $0.33 per
diluted share on 33,074,000 shares outstanding, compared to net income
of $628,000 or $0.02 per diluted share on 25,250,000 shares outstanding
for the same period of the previous year.

For 1999, Harmonic reported net sales of $184.1 million, up 119% from
$83.9 million for 1998. Net income for 1999 was $23.7 million or $0.76
per diluted share, compared to a net loss of $21.5 million or ($0.92)
per diluted share for 1998. The loss for 1998 included a charge of
$14.0 million or $0.60 per diluted share resulting from the acquisition
of Harmonic Data Systems.

Harmonic experienced strong demand for its fiber optic products
across its worldwide base of cable customers during the fourth quarter.
Domestic sales increased 197% from the fourth quarter of 1998. While
AT&T continued to be the Company`s largest single customer, Harmonic`s
shipments to other major domestic cable operators grew strongly during
the quarter. International sales increased across all regions, up 47%
from the fourth quarter of 1998. During the quarter, Harmonic announced
a definitive agreement to acquire the DiviCom business of C-Cube
Microsystems (Nasdaq: CUBE). DiviCom is a leading developer of
standards-based MPEG-2 encoding systems for digital video. The
combination will position Harmonic as a leading supplier of open-system
solutions for delivering video, voice and data over a variety of
network architectures. The transaction is currently expected to close
by the end of March, 2000.

"This was a great year for Harmonic," said Anthony J. Ley, Chairman,
President and Chief Executive Officer.

"We are very pleased with our growth in sales and profitability, and
our continued development and roll out of exciting new systems. Backed
by stronger financial resources and subscriber demand for bandwidth,
cable operators continued to upgrade their networks to offer
video-on-demand, high-speed Internet access, telephony and other
advanced services."

"In 2000, we intend to continue to develop advanced fiber optic and
digital systems, expand our worldwide sales and marketing effort, and
complete the acquisition and integration of DiviCom. The combination
with DiviCom will double the size of our company and allow us to offer
more complete solutions for cable operators, as well as expand our
penetration into telecommunications, satellite, wireless and other
emerging broadband markets. We expect that combining DiviCom`s
strengths in digital compression and our strengths in fiber optics will
significantly enhance Harmonic`s position in the broadband market."

A live Internet broadcast of Harmonic`s fourth quarter conference
call (2:00 PM Pacific/5:00 PM Eastern) will be available today at
www.harmonicinc.com under "Investor Relations."


About Harmonic Inc.

Harmonic designs, manufactures and markets digital and fiber optic
systems for delivering video, voice and data over cable, satellite and
wireless networks. These advanced solutions enable cable television and
other network operators to provide a range of broadcast and interactive
broadband services that include high-speed Internet access, telephony,
and video-on-demand.

Harmonic is headquartered in Sunnyvale, Calif., where it also
operates an R&D center and a manufacturing facility. The company also
operates its Harmonic Data Systems subsidiary and an R&D center in
Israel. In addition, the company maintains several sales and support
centers worldwide. Harmonic is ISO 9001-certified and employs
approximately 450 people. For more information about Harmonic please
visit the Company`s website at www.harmonicinc.com.

This press release contains forward-looking statements regarding
increased demand for fiber optic products, the continued upgrade of
cable networks and continued industry spending, Harmonic`s continued
development and deployment of new fiber optic and digital systems, the
expansion of Harmonic`s sales and marketing efforts, and expectations
regarding the market impact of Harmonic`s proposed acquisition of the
DiviCom business of C-Cube Microsystems. Forward-looking statements
involve a number of risks and uncertainties including, but not limited
to, dependence on cable television and communications industry capital
spending, in particular, that of AT&T, our largest customer; regulatory
developments; rapid technological change; the highly competitive nature
of the broadband communications industry; the Company`s ability to
successfully develop, manufacture and gain widespread market acceptance
of new products, in particular its digital TRANsend product line,
CyberStream, and scalable node products; dependence on the evolution of
wireless and satellite broadband services; the timely completion of the
acquisition of DiviCom; the successful integration of the products,
customers, suppliers and employees of DiviCom and other factors more
fully described in the Company`s reports to the Securities and Exchange
Commission, including but not limited to, the reports on Form 10-K for
the year ended December 31, 1998 and quarterly reports on Form 10-Q.
Actual results may differ materially. The Company does not undertake to
update any oral or written forward-looking statements that may be made
by or on behalf of the Company.





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