UPDATE: Netgear Posts Drop In Q4 Profit, Issues Downbeat Q1 Revenue Forecast

Netgear

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.