Wednesday, July 25, 2012

NETGEAR Posts Q2 Revenue of $321 Million, up 10% YoY

NETGEAR reported Q2 2012 net revenue of $320.7 million, as compared to $291.2 million in the comparable prior year quarter, 10.1% year-over-year growth. Net income, computed in accordance with GAAP, for the second quarter of 2012 was $21.5 million, or†$0.56 per diluted share.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR commented, "Despite the challenging macro environment in Europe, we are pleased that we finished the second quarter with double digit year-over-year worldwide revenue growth. We increased our R&D spend and we are excited about the 26 products introduced in Q2 as well as the new products planned for the rest of the year.† We continued to see strong revenue growth and market share gain in Asia Pacific, the fastest growing region in the world."