NETGEAR Sees 23% Year-over-year Growth

NETGEAR reported Q1 revenue of $109.0 million, a 3.7% increase as compared to $105.1 million for the fourth quarter of 2004, and a 23.3% increase as compared to $88.4 million for Q1 2004.


Net revenue in the first quarter of 2005 derived from North America was $51.1 million, the Europe, Middle East and Africa, or EMEA, region was $47.0 million, and the Asia Pacific region was $10.9 million.


Non-GAAP gross margin in the first quarter of 2005 was 33.0%, as compared to 32.9% in the prior quarter and 31.1% in the year ago comparable quarter.
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