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October 26, 2010

Netgear Q3 revenue up 38% to $236m

North America net revenue accounted for 52% of the total revenue

By CBR Staff Writer

Netgear has reported net revenue of $236.1m for the third quarter of 2010, an increase of 38%, compared to $171.1m for the same period last year.

The company posted an operating income of $22m for the third quarter of 2010, compared to $15m for the same quarter last year.

For the third quarter ended 3 October 2010, the company posted a net income of $13.1m, or $0.36 per diluted share, compared to a net income of $9m, or $0.24 per diluted share, for the same quarter of 2009.

Geographically, North America net revenue was $122m, which accounted for 52% of the total revenue, an increase of eight percentage points from a year ago quarter.

EMEA region accounted for 38% of net revenue with $89m, while Asia Pacific region accounted for 10% with $25m net revenue.

Netgear chairman and CEO Patrick Lo said for the third quarter of 2010, they are extremely pleased with their strong back-to-school performance in North America, which helped generate 62% year-on-year growth in that region.

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"Net revenue from service providers was approximately 19% of total net revenue in the third quarter of 2010, as compared to 25% in the third quarter of 2009, and 16% in the second quarter of 2010," Lo said.

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