Monday, October 25, 2010

NETGEAR's Q3 Revenue Rises 38% YoY

NETGEAR reported Q3 2010 net revenue of $236.0 million, compared to $171.1 million in the comparable prior year quarter, 38% year-over-year growth. Non-GAAP net income was $16.1 million, compared to net income of $11.0 million in the comparable prior year quarter.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "For the third quarter of 2010, we are extremely pleased with our strong back-to-school performance in North America, which helped generate 62% year-on-year growth in that region. We also continue to experience a recovery in demand among small business customers worldwide, as reflected in our strong third quarter SMB revenue. Net revenue from service providers was approximately 19% of total net revenue in the third quarter of 2010, as compared to 25% in the third quarter of 2009, and 16% in the second quarter of 2010. We expect our service provider net revenue to continue to increase sequentially in the fourth quarter of 2010 as our service provider customers continue to phase in Docsis 3.0 equipment."