NETGEAR Continues Fast Growth - Up 28% YoY

NETGEAR reported net revenue for the third quarter ended October 2, 2011 of$301.8 million, as compared to $236.0 million for the third quarter ended October 3, 2010, and as compared to $291.2 million in the second quarter ended July 3, 2011. Net income, computed in accordance with GAAP, for the third quarter of 2011 was $26.7 million, or $0.70 per diluted share.


Patrick Lo, Chairman and Chief Executive Officer of NETGEAR commented, "We are extremely pleased with our Q3 2011 financial performance amid a challenging macroeconomic environment. Our Retail Business Unit revenue was up 18% sequentially, and up 10% over the prior year quarter, while the Commercial Business Unit revenue was up 18% sequentially, and up 21% over the prior year quarter. As expected, the Service Provider Business Unit revenue was down 21% sequentially, reflective of a one-time order from a major service provider in the previous quarter. On a year-over-year basis, service provider revenue was up 85%.:http://www.netgear.com