Netgear Results Top Estimates

(RTTNews) - Networking products company Netgear Inc (NTGR) on Thursday reported fourth-quarter net loss of $40.4 million or $1.16 per share compared with a profit of $11.4 million or $0.30 per share last year.

Results for the recent quarter included a non-cash goodwill impairment charge of $74.2 million, or $1.62 per share, net of tax.

Excluding items, adjusted earnings for the quarter were $0.65 per share compared with $0.59 per share a year ago.

Revenues for the quarter were $353.2 million compared with $356.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.63 per share on revenues of $344.5 million for the quarter. Analysts' estimates typically exclude special items.

Operating margin for the quarter was a negative 13.2% compared with a positive margin of 6.6% in the prior year ago.

CEO Patrick Lo said that during the quarter, the company's retail business and commercial business units performed well, while it saw a decline in service provider revenue, adding that the segment's purchase constraints will deteriorate further in 2015 and for the foreseeable future.