NETGEAR's Q1 Revenue Tops $279 Million, up 32% YoY

NETGEAR reported Q1 net revenue of $278.8 million, as compared to $211.6 million for the first quarter ended March 28, 2010, and as compared to $258.5 million in the fourth quarter ended December 31, 2010. Net income (GAAP) was $21.2 million, or $0.57 per diluted share.


Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "We are extremely pleased with our first quarter 2011 performance, another quarter of record revenue and profit. We were carrying tremendous momentum out of a very strong fourth quarter, and our new products continue to exceed our expectations and enable us to gain market share. "Our impressive first quarter growth was driven by new products introduced in recent quarters. Particularly encouraging is the market's reception to our products in TV and mobile connectivity, Docsis 3.0 cable gateways, and business network storage. To continue the new product momentum, we introduced another 20 new products in Q1 2011, beefing up our portfolios in the areas of TV connectivity, Docsis 3.0 cable gateways, and security appliances."
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