Netgear Inc. (NTGR) Stock Drops 23 Percent
Share on Netgear Inc. dropped 23% on Friday to close at $29.89, a day after it posted a sharp earnings drop.
The Santa Clara-based networking equipment maker's (NASDAQ:NTGR - News) profit fell 38% to $6.1 million, or 17 cents a share.
Its non-Gaap earnings would have been 38 cents a share, a penny below what was expected by analysts surveyed by Thomson First Call.
Revenue for the quarter rose 26 percent to $164.3 million. The company projected third-quarter sales will be between $178 million and $182 million, above analysts' forecasts of $177.7 million.
Published July 27, 2007 by the Silicon Valley / San Jose Business Journal
The Santa Clara-based networking equipment maker's (NASDAQ:NTGR - News) profit fell 38% to $6.1 million, or 17 cents a share.
Its non-Gaap earnings would have been 38 cents a share, a penny below what was expected by analysts surveyed by Thomson First Call.
Revenue for the quarter rose 26 percent to $164.3 million. The company projected third-quarter sales will be between $178 million and $182 million, above analysts' forecasts of $177.7 million.
Published July 27, 2007 by the Silicon Valley / San Jose Business Journal
Labels: Netgear Inc., NTGR
posted by Stock Administrator @ 8:44 PM
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