Netgear Inc. (NTGR), Thursday reported first-quarter net income of $15.3 million or $0.39 per share, compared to $25.1 million or $0.65 per share last year.
Adjusted earnings for the quarter was $0.50 per share, down from $0.73 per share in the first quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the first quarter dropped to $293.4 million from $325.6 million last year. Analysts estimated revenues of $297.78 million for the quarter.
The company expects second-quarter net revenue of $345 million to $360 million. Analysts currently estimate earnings of $350.34 million for the quarter.
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