Netgear: Q3 EPS Misses; Q4 Forecast Short; Sets Buyback

Netgear (NTGR) shares, which sold off in the regular session, are down again after hours following a disappointing Q3 earnings report and weak Q4 guidance.

For Q3, NTGR posted revenue of $179.4 million, beating the consensus at $176.9 million. But non-GAAP profits of 19 cents a share were well short of the Street at 26 cents.

Also, the company sees Q4 revenue of $155 million to $165 million, below the Street consensus of $186.7 million. Netgear sees non-GAAP operating margin in the quarter of 9.5-10.5 percent.

In a statement, CEO Patrick Lo said the that the company suffered “weakness in demand for our consumer products across both retail and service provider channels in all geographies.” Lo added that the company expects subdued spending conditions to persist over the next few quarters. The company also was hurt by the strengthening dollar, reporting a currency loss in the quarter of $4.7 million.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — 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 websites, 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.

Read more »