Netgear Inc. (NTGR) announced after the close Monday that it now expects first quarter net revenue to be in the range of $290 million to $295 million, compared to its prior guidance of $290 million to $305 million. Adjusted earnings for the first quarter is expected to be in the range of $0.45 to $0.50 per share. Analysts currently expect the company to earn $0.59 per share on revenue of $299.66 million for the first quarter.
Netgear has been declining since the open of trade Tuesday and is now down 1.43 at $29.45. The stock is now testing the lows of the year, trading at an 8 1/2 month low.
For comments and feedback: editorial@rttnews.com