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Netgear, Inc. (NTGR) Tops Q3 EPS by 16c

October 22, 2015 4:44 PM EDT

Netgear, Inc. (NASDAQ: NTGR) reported Q3 EPS of $0.67, $0.16 better than the analyst estimate of $0.51. Revenue for the quarter came in at $341.9 million versus the consensus estimate of $322.14 million.

Netgear, Inc. sees Q4 2015 revenue of $335-350 million, versus the consensus of $338.26 million.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "Our financial results for the third quarter of 2015 exceeded expectations, driven by strength in North America and a robust back-to-school season. Our revenue in Q3 was further augmented by higher than normal demand from our service provider customers. The Retail Business Unit had an all-time record quarter in sales, powered by our fast-growing Arlo and Nighthawk product lines. The success of both product lines continued to drive up average selling prices for NETGEAR retail products, and led to a healthy 24.9% year-over-year increase in revenue for the Retail Business Unit for Q3. We were also pleased with the sequential growth shown by the Commercial Business Unit, which was led by our switching products. With many new products in the pipeline, we see the momentum of our switching products rolling into the coming quarters. Meanwhile, we continued to closely manage the Service Provider Business Unit with a focus on profitability."

Mr. Lo continued, "We remain committed to being a leader in the connected home space by leveraging our home WiFi expertise and providing cutting edge, unique products for consumers. We continue to see a greenfield opportunity in the Internet of Things for NETGEAR following on the heels of our highly successful Arlo wire-free cameras. We are committed to investing significant R&D dollars in order to bring more exciting products to the rapidly growing Smart Home market."

For earnings history and earnings-related data on Netgear, Inc. (NTGR) click here.



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