Netgear posts quarterly sales record

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Netgear posts quarterly sales record

Alex Scroxton

SMB networking kit specialist Netgear has jumped to record sales for both the fourth quarter and full year after strong sales through service providers and a higher than expected contribution from a glut of 26 new product lines released during the quarter.

Total sales for the three months to 31 December were $258.5m (£160.3m), up 18% year-on-year. The full year figure was $902.1m, up 31% on 2009.

Netgear posted quarterly GAAP net income of $13.6m, up 72% on the year-ago period, while full year profits of $50.9m were up from $9.3m in 2009.

EMEA accounted for approximately 39% of total sales for the fourth quarter, and 38% for the year.

Chairman and CEO Michael Lo said Netgear would pump more money into research and development during fiscal 2011.

"We continue to believe that our strong product pipeline will be the driving engine of our growth. In the first quarter of 2011 we intend to roll out at least another 20 new products," he said.


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