NetGear Q4 Loss Narrows

(RTTNews) - NetGear Inc. (NTGR) Wednesday reported a narrower loss for the fourth quarter, reflecting increase in revenues.

San Jose, California-based NetGear's profit reported loss of $12.95 million or $0.41 per share, narrower than last year's loss of $31.93 million or $1.02 per share.

On an adjusted basis, earnings were $0.68 per share for the fourth quarter, up from $0.34 per share last year.

Revenues for the quarter were $288.93, up 5.4% from $274.15 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.49 per share and revenues of $379.84 million for the quarter.

CEO Patrick Lo said, "We had a successful fourth quarter of 2018, driven by Orbi, Nighthawk Pro Gaming, cable modems and gateways, and our SMB switching portfolio, in particular the PoE and ProAV switches. Our financial results for the quarter came in at the high end of our guidance range for revenue and operating margin. We delivered a healthy profit in Q4 and saw year-over-year top line growth for both the CHP and SMB segments."

Looking forward to the first quarter of 2019, the company expects revenues to be in the range of $235 million to $250 million. Analysts currently estimate earnings of $264.67 million for the quarter.