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 are 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 declined during the first 45 minutes of trade Tuesday, before settling into a range. The stock finished with a loss of 2.42 at $28.46, with volume at over an 8-month high. Netgear has been falling for the last 3 sessions and sank to a new low for the year.
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