UPDATE: Netgear Posts Drop In Q4 Profit, Issues Downbeat Q1 Revenue Forecast
Netgear (NASDAQ: NTGR) reported a drop in its fourth-quarter net income and issued downbeat current-quarter revenue forecast.
Netgear expects Q1 revenue of $290 million to $305 million, versus analysts' estimates of $317.6 million.
Netgear's quarterly net income declined to $16.1 million, or $0.41 per share, from $22.8 million, or $0.60 per share, in the year-ago period. Excluding items, Netgear earned $0.55 per share.
Its revenue gained to $310.4 million. However, analysts were expecting earnings of $0.54 per share on revenue of $307.6 million.
Netgear shares fell 7.40% to $33.80 in after-hours trading.
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