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SMB sales shine for Netgear

Alex Scroxton

A worldwide recovery in demand for networking kit among SMBs benefited Netgear during its fiscal Q3, which closed on 3 October, according to chairman and CEO Patrick Lo.

Netgear, which specialises in home and small business networking kit, posted net sales of $236m (£148.9m), up 38% year-on-year and well ahead of analyst expectations.

GAAP net income hit $13.1m, up 54% on the year-ago quarter.

EMEA accounted for 38% of Netgear's net sales for the period.

"We expect a strong finish to the year with strong worldwide market demand across all of our product categories," said Lo.

"Our success has been driven by innovative product introductions and we will continue to focus on innovation in the fourth quarter with another 20 plus new product introductions," he added.

Netgear introduced a swathe of new products during Q3, with the most recent introduction being its Roku TV streaming device.

The firm expects to book sales in the region of $245m for the coming Christmas quarter.


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