NETGEAR Issues Q1 Guidance

(RTTNews) - NETGEAR, Inc. (NTGR) said, for first quarter, net revenue is expected to be in the range of $205 million to $220 million. Given this decline in topline, the company expects non-GAAP operating margin to be in the range of 2.0% to 3.0%.

Fourth quarter non-GAAP net income per share from continuing operations was $0.34, compared to $0.68, prior year. Net revenue was $253.0 million, a decrease of 12.4% from last year.

Patrick Lo, CEO of NETGEAR, said, "We proceeded as planned by participating competitively in the WiFi 5 market while aggressively shifting our channel to WiFi 6 products. We took advantage of incremental opportunities to gain share, thus leading to slightly higher revenue and lower non-GAAP operating margin. We expect WiFi 6 and Power over Ethernet Plus to constitute the majority of the markets in which they play in the second half of this year."