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Earnings Report: NetGear

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Published on Jul 21, 2010

NetGear (NASDAQ:NTGR) reported Q2 EPS of $0.38, topping consensus estimates of $0.32. Revenues rose 35.4% year-over-year to $195.95 million, in line with consensus estimates of $195.95 million.

Chairman and CEO Patrick C.S. Lo said, "For the second quarter of 2010, we are pleased with our year on year growth in all three geographic regions, especially with our 48% growth in North America. While the U.S. retail market grew strongly year over year, we also achieved the number one market share position in the networking category for the first time. We are also pleased to see a continuous recovery of demand among small business customers worldwide. Our net revenue from service providers was approximately 16% of total net revenue in the second quarter 2010, as compared to 30% in the second quarter of 2009, and 19% in the first quarter of 2010. We expect the percentage of service provider revenue to increase when our service provider customers worldwide begin rolling out Docsis 3.0 equipment in the second half of 2010."

SmarTrend currently has NetGear in an uptrend. Since 2008, SmarTrend subscribers trading NetGear using our alerts outperformed the stock by 230%. We are monitoring these developments and will alert subscribers to any change in trend.

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