NETGEAR Reports Q1 Revenue of $88M, up 2% Sequentially

NETGEAR reported Q1 revenue of $88.4 million, as compared to $67.7 million for Q1 2003, and increased by 2% over the $86.8 million in the preceding quarter. Net revenue in the first quarter of 2004 derived from North America was $48.3 million, the Europe, Middle East and Africa region was $31.7 million and the Asia Pacific region was $8.4 million. Net income (GAAP) was $4.2 million, or $0.14 per basic share, as compared to net income of $1.6 million for the first quarter of 2003. http://www.netgear.com