NetGear Inc. Announces 17% Fall In Q3 Profit

(RTTNews) - NetGear Inc. (NTGR) reported a profit for third quarter that dropped from last year.

The company said its bottom line dropped to $21.74 million, or $0.67 per share. This was lower than $26.18 million, or $0.72 per share, in last year's third quarter.

Analysts had expected the company to earn $0.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.2% to $341.89 million. This was down from $353.34 million last year.

NetGear Inc. earnings at a glance:

-Earnings (Q3): $21.74 Mln. vs. $26.18 Mln. last year. -Earnings Decline (Y-o-Y): -17.0% -EPS (Q3): $0.67 vs. $0.72 last year. -EPS Decline (Y-o-Y): -6.9% -Analysts Estimate: $0.51 -Revenue (Q3): $341.89 Mln vs. $353.34 Mln last year. -Revenue Change (Y-o-Y): -3.2%

-Guidance: Next quarter revenue guidance: $335 - $350 Mln