NETGEAR, Inc. (NTGR) reported net income for the first quarter of $25.1 million or $0.65 per share, compared to $21.2 million or $0.57 per share in the year-ago quarter.
Adjusted earnings for the quarter were $28.1 million or $0.73 per share, up from $24.2 million or $0.65 per share last year. On average, 8 analysts polled by Thomson Reuters expected earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter grew to $325.62 million from $278.82 million in the comparable quarter last year, while eight Street analysts had a consensus revenue estimate of $318.55 million.
Non-GAAP operating margin was 12.5% in the first quarter of 2012, as compared to 12.6% in the first quarter of 2011.
For the second quarter, the company expects net revenue in the range of $315 million to $330 million, with non-GAAP operating margin in the range of 11 to 12 percent. The Street expect revenues for the second quarter of $320.33 million.
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