NETGEAR Sees Growth Slow

NETGEAR reported Q4 2012 revenue of $310.4 million, as compared to $309.2 million for the fourth quarter ended December 31, 2011, and $315.2 million in the third quarter ended September 30, 2012.  Net income, computed in accordance with GAAP, for the fourth quarter of 2012 was $16.1 million, or $0.41 per diluted share.  This compared to GAAP net income of $22.8 million, or $0.60 per diluted share, for the fourth quarter of 2011, and GAAP net income of $23.8 million, or 0.61 per diluted share, in the third quarter of 2012.

"The worldwide macroeconomic environment proved challenging for us during the second half of 2012. In the fourth quarter, we witnessed reduced spending among our service provider customers and Commercial Business Unit customers. Despite this, our Retail Business Unit experienced the best fourth quarter sequential growth in the last three years. We are very pleased with the share gain against our retail competitors worldwide. We introduced 32 new products in the fourth quarter of 2012 and once again, we were a double honoree this year in the CES Innovations Design and Engineering Awards competition," stated Patrick Lo, Chairman and Chief Executive Officer of NETGEAR.

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