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Last year ended far better than 2008 for Netgear as the firm registered positive financial figures during the final quarter.
Between September and December 2009, the networking equipment provider reported a net income of $7.9 million, which was substantially better than the $7.3 million net loss witnessed in the same period 12 months earlier.
The largest revenue growth area was North America, with figures improving by 52 per cent to $104.3 million, while profits were also witnessed in Europe, Africa and the Asia Pacific region.
Meanwhile, the introduction of 23 new products to market during the final quarter of the year also had a positive bearing on the financial figures.
Patrick Lo, chairman and chief executive at Netgear, said: "Revenue upside was driven by better than planned market share gain in the US, European market year-over-year growth and higher than expected revenue contribution from new products."
The company is hoping that further encouraging results follow and it has predicted that the first quarter of this year will bring on revenue of approximately $200 million.
Netgear recently released a new security device called the ProSecure UTM5 to support small businesses in their desire for safer computers.
News provided by Comms Express, number one for networking industry news on the net.
Last Updated: 12/02/2010 17:15
Netgear has positive final quarter to 2009 - Networking Industry News - Article Discussion
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