Netgear Q3 Revenues Whiff Badly; Stock Sags

October 8, 2008 at 5:52 am PT

Netgear (NTGR) this morning said revenue for its third quarter ended Sept. 28 was $173 million to $183 million–well short of its previous guidance range of $208 million to $212 million.

In a statement, CEO Patrick Lo said the company “experienced weakness in September demand on our consumer products across all channels and in all geographies, particularly in the service provider channel, where our carrier customers worldwide requested shipment delays on previously placed orders, thereby preventing us from recognizing revenue on those orders.”

Read the rest of this post

Tagged with: Barrons, Eric Savitz, frontpage, Netgear, Patrick Lo, service provider, Tech Trader Daily

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.