Netgear Posts Unexpected Q4 Loss; Warns On Q1
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.”
Read the rest of this post