NETGEAR's Q2 Revenue Falls to $144 Million from $205 Million in Q2 Last Year

Netgear reported Q2 revenue of $144.7 million, compared to $204.5 million for the second quarter ended June 29, 2008, and $152.0 million in the first quarter ended March 29, 2009. Net loss (GAAP) was $3.3 million, or $0.10 per diluted share. This compared to net income of $11.1 million for the second quarter of 2008 and net loss of $3.8 million in the first quarter of 2009.


Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "Due to normal seasonality, the second quarter is generally the slowest quarter of our fiscal year. Given this, we are pleased to achieve net revenue of $144.7 million, especially in light of the worldwide macroeconomic downturn, while at the same time reducing our "on-hand" and our distribution channels' inventory levels. Our net revenue from service providers was approximately 30% of total net revenue, as compared to 27% in the second quarter of 2008, and 27% in the first quarter of 2009. In addition, we are excited to have added Megacable of Mexico to our service provider customer list in the second quarter of 2009."http://www.netgear.com