Netgear Profit Misses Estimates, Sales Beats; Q3 Revenue Outlook Strong

(RTTNews) - Networking products company Netgear Inc (NTGR) on Thursday reported second-quarter net earnings of $3.7 million or $0.11 per share compared with $14.7 million or $0.40 per share last year.

Excluding items, adjusted earnings for the quarter were $0.29 per share compared with $0.58 per share a year ago.

Revenues for the quarter were lower at $288.8 million compared with $337.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.30 per share on revenues of $277.8 million for the quarter. Analysts' estimates typically exclude special items.

Operating margin for the quarter was lower at 3.9% versus 7.3% in a year ago, and gross margin fell to 26.9% from 28.8%.

For the third quarter, the company expects revenues of $315 million to $330 million, while analysts expect $302 million.