Netgear Posts Unexpected Q4 Loss; Warns On Q1

February 12, 2009 at 2:42 pm PT

Netgear (NTGR) this afternoon posted an unexpected Q4 loss, and provided Q1 guidance short of Street expectations.

For the quarter, the networking and storage products company reported revenue of $161.4 million, ahead of the Street at $157.2 million, but in line with guidance of $155 million to $165 million. However, the company also posted a non-GAAP loss for the quarter of 8 cents a share; the Street had been looking for a profit of 7 cents a share. NTGR had been expecting a non-GAAP operating margin of 9.5-10.5 percent; the figure actually came in at 5.6 percent.

In a statement, CEO Patrick Lo said the company’s revenue and operating income were “unexpectedly weighed down by rapid declines in value of foreign currencies against the U.S. dollar.”

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Tagged with: Barrons, Eric Savitz, foreign currency, frontpage, Netgear, operating income, Patrick Lo, Tech Trader Daily

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