NETGEAR Q2 Loss Widens, Revenue Down
(RTTNews) - NETGEAR Inc. (NTGR) on Thursday reported a wider second-quarter loss as revenue declined.
For the second quarter, net loss widened to $7.3 million, or $0.27 per share, from $6.4 million, or $0.22 per share, a year earlier. Adjusted earnings were $0.16 per share, compared with $0.06 per share last year.
Quarterly revenue edged down 1.2% to $168.6 million from $170.5 million last year. Gross margin improved to 40.2% from 37.5.
Enterprise segment revenue rose 7.7% to $89.0 million, supported by continued demand for ProAV networking products, while consumer revenue fell 9.4% to $79.6 million.
Looking ahead, NETGEAR expects third-quarter revenue in the range of $165 million to $175 million.
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