Netgear reverses year-on-year losses

Networking vendor Netgear is heading back to profitability after posting GAAP net income of $7.9m (£5.04m) for the three months ending on 31 December 2009, up from a GAAP net loss of $7.3m at the end of 2008. Sales were up 35.5% year-on-year to $218.8m, helped along by a one-time $18m order b

Networking vendor Netgear is heading back to profitability after posting GAAP net income of $7.9m (£5.04m) for the three months ending on 31 December 2009, up from a GAAP net loss of $7.3m at the end of 2008.

Sales were up 35.5% year-on-year to $218.8m, helped along by a one-time $18m order by a service provider customer.

Full-year sales were down 7% on 2008 to $686.6m, while net income fell 28.2% to $23.6m.

Strong growth and higher than expected revenue from new kit - Netgear introduced 23 new products during Q4 - contributed to a strong showing from EMEA, which accounts for 42% of Netgear's total business, according to chairman and CEO Patrick Lo.

Looking ahead to fiscal 2010, Lo said Netgear remained committed to its product line-up.

"We remain focused on continuously driving growth through new products, leading to gains in our market share globally. For the first quarter 2010 we expect net revenue in the range of approximately $195m to $205m," he said.


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