Netgear reports increased profits - Network Accessories

Netgear reports increased profits - Network Accessories Networking company Netgear has reported increased revenues and profits in the first quarter of 2010.

The company made $211.6 million in this period, up from $152.0 million in the first quarter of 2009 and resulting in gross profits of $72.8 million.

Profits were also up on the previous quarter while the diluted income per share, $0.38, is up from $0.22.

Patrick Lo, chairman and chief executive of Netgear, said: "During the quarter, we experienced year-over-year revenue growth in all three geographic regions based on increased end market demand and further market share gains.

"We are happy to report that component shortages are largely behind us and channel inventory is up to very good levels in all regions."

He also highlighted some of the company's recent releases, including 3G signal repeaters, firewall routers and wireless LAN management systems.

Netgear recently announced that its ReadyNAS line of network attached storage products had been given VMware Ready status, making them particularly suitable for virtualisation efforts.

News provided by Comms Express, number one for Netgear on the net. ADNFCR-1186-ID-19737366-ADNFCR

Last Updated: 22/04/2010 17:15

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