|06/23/16 08:12 AM||NETGEAR Inc. (NTGR) Hits New 52-week High During June 21 Session|
|06/22/16 05:22 PM||NETGEAR Inc. (NTGR) Hits New 52-week High During June 20 Session|
|06/20/16 05:23 PM||Potential NETGEAR (NTGR) Trade Has 6.43% Downside Protection|
|06/16/16 09:00 AM||QLogic (QLGC) to be Acquired by Cavium for $1.36 Billion - |
|06/16/16 08:45 AM||Cisco Price Target Cut by Goldman Sachs, Rating Downgraded - |
|06/10/16 05:49 PM||Analyst Favorites With Strong Buyback Activity: Netgear Ranks As a Top Pick|
|06/10/16 08:27 AM||NETGEAR Inc. (NTGR) Hits New 52-week High During June 08 Session|
|06/09/16 05:52 PM||NETGEAR Is A Buy, According To Wunderlich|
|06/08/16 08:31 AM||Wunderlich Begins Coverage on NETGEAR, Inc. (NTGR) By Announcing An Initial Rating Of “Buy”|
|06/08/16 05:09 AM||Coverage initiated on NETGEAR by Wunderlich - |
|06/06/16 05:03 AM||NETGEAR, INC Files SEC form 8-K, Submission of Matters to a Vote of Security Holders - |
|06/01/16 11:34 AM||NETGEAR, Inc. :NTGR-US: Earnings Analysis: Q1, 2016 By the Numbers : June 1, 2016 - |
|05/27/16 10:07 PM||EBay acquires Spanish online ticketing platform Ticketbis - Currently, eBay is a Zacks Rank #3 (Hold) stock. AMKR, Netgear Inc. NTGR and TiVo Inc. Today, you can download 7 Best Stocks for the Next 30 Days. Penguins Advance to Stanley Cup Finals Kessel has been an X-factor in Pittsburgh in the postseason.|
|05/26/16 09:52 PM||Earnings Review and Stock Rundown for NETGEAR, Inc. (NASDAQ:NTGR) - Wall Street Hints and News - Earnings Review and Stock Rundown for NETGEAR, Inc. (NASDAQ:NTGR)Wall Street Hints and NewsInvestors and analysts will be paying close attention when the company posts earnings results. Earnings numbers can provide insight into a company's overall profitability. Covering equity analysts are expecting NETGEAR, Inc. (NASDAQ:NTGR) to post ...and more »|
|05/25/16 07:06 AM||NETGEAR® to Host 2016 Annual Stockholder Meeting - [at noodls] - May 25, 2016 SAN JOSE, Calif., May 25, 2016 (GLOBE NEWSWIRE) -- NETGEAR, Inc. (NASDAQ:NTGR), a global networking company that delivers innovative products to consumers, businesses and service providers, ...|
|05/24/16 08:16 AM||Advanced Micro Devices Hits 52-Week High on Firm Q2 View - Stocks to Consider Some better-placed stocks in the technology space include TiVo Inc. (TIVO - Analyst Report) , Netgear Inc. (NTGR - Snapshot Report) and Radcom Ltd. (RDCM - Snapshot Report) , each sporting a Zacks Rank #1 (Strong Buy).|
|05/23/16 04:39 PM||Google's Modular Phones Getting Ready to Ship Next Year - Better-ranked stocks in the broader technology space include TiVo Inc. TIVO, Netgear Inc. NTGR and Radcom Ltd. RDCM, each sporting a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best ...|
|05/20/16 04:35 PM||Latest Analyst Ratings For NETGEAR, Inc. (NASDAQ:NTGR) - Share Trading News - Latest Analyst Ratings For NETGEAR, Inc. (NASDAQ:NTGR)Share Trading News04/05/2016 – Sterne Agee began new coverage on NETGEAR, Inc. giving the company a “neutral” rating. They now have a USD 43 price target on the stock. 11/17/2015 – NETGEAR, Inc. had its “sector perform” rating reiterated by analysts at RBC Capital.and more »|
|05/20/16 08:04 AM||NETGEAR Inc. (NTGR) is Trading Higher on Unusual Volume for May 18 - NETGEAR Inc. (NTGR) experienced unusually high volume on May. 18, as the stock gained 1.03% to a closing price of $42.13. The stock saw 414,989 shares trade hands over the course of the day on 3,475 trades. Given that the stock’s average daily volume ...|
|05/19/16 09:45 PM||NETGEAR Inc. (NTGR) is Trading Higher on Unusual Volume for May 18 - Equities.com - NETGEAR Inc. (NTGR) is Trading Higher on Unusual Volume for May 18Equities.comNETGEAR Inc. (NTGR) experienced unusually high volume on May. 18, as the stock gained 1.03% to a closing price of $42.13. The stock saw 414,989 shares trade hands over the course of the day on 3,475 trades. Given that the stock's average daily volume ...|
|05/19/16 09:45 PM||Cisco (CSCO) 3Q Earnings In Line, Revenues Top, Stock Up - Cisco carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the same space are Radcom Ltd. RDCM and Netgear Inc. NTGR, sporting a Zacks Rank #1 (Strong Buy), and Digi International Inc. DGII, carrying a Zacks Rank #2 (Buy).|
|05/19/16 03:29 PM||Griffin Capital Essential Asset REIT II Acquires NETGEAR Headquarters in San Jose, California - [GlobeNewswire] - EL SEGUNDO, Calif., May 19, 2016-- Griffin Capital Corporation announced today, on behalf of Griffin Capital Essential Asset REIT II, Inc., the acquisition of a 142,700 square-foot office and R&D facility ...|
|05/17/16 08:23 AM||Netgear Incorporated (NASDAQ:NTGR) Shorts Decreased by 2.83% After Short Covering - Wall Street Hints and News - Netgear Incorporated (NASDAQ:NTGR) Shorts Decreased by 2.83% After Short CoveringWall Street Hints and NewsThe short interest to Netgear Incorporated's float is 3.15%. The stock is up 2.40% or $1.01 after the news, hitting $43.02 per share. About 168,301 shares traded hands. NetGear, Inc. (NASDAQ:NTGR) has risen 31.28% since October 8, 2015 and is uptrending.and more »|
|05/14/16 12:04 PM||NETGEAR, INC Financials - |
|05/09/16 03:14 AM||Broker Outlook For The Week Ahead NETGEAR, Inc. (NASDAQ:NTGR) - Share Trading News - Broker Outlook For The Week Ahead NETGEAR, Inc. (NASDAQ:NTGR)Share Trading NewsBroker Outlook For The Week Ahead NETGEAR, Inc. (NASDAQ:NTGR). By Brenton Akerman / in US Broker Ratings / on Sunday, 08 May 2016 08:22 PM / 0 Comments. The most recently updated broker views and price targets issued for NETGEAR, Inc.|
|05/06/16 03:23 PM||NETGEAR, INC Files SEC form 10-Q, Quarterly Report - |
|05/05/16 05:15 PM||Earnings Outlook on NETGEAR, Inc. (NASDAQ:NTGR) - B.O.D.Y Confidential - Earnings Outlook on NETGEAR, Inc. (NASDAQ:NTGR)B.O.D.Y ConfidentialAnalysts and investors will be anticipating NETGEAR, Inc. (NASDAQ:NTGR)'s next earnings release which is expected to be posted on or around 2016-07-28. Sell-side research firms on Wall Street are expecting that the company will post EPS of $0.5 for the ...and more »|
|05/04/16 07:30 AM||NETGEAR Expands 10GbE Smart Switching Line for Powerful Network Performance and Capacity - [Business Wire] - NETGEAR®, Inc. , a leading manufacturer of Smart Web Managed Switching, is adding three powerful new switches to its second-generation ProSAFE® 10-Gigabit Ethernet Smart Managed Switch portfolio.|
|05/03/16 10:04 PM||NETGEAR, Inc. (NASDAQ:NTGR) Is Trading Down – Insider Trading Activity - Here is the rundown on market activity for NETGEAR, Inc.. A. Timothy Godwin, Director disclosed the sale of 10,000 shares of NTGR stock. The shares were sold on April 28th for a price of $41.67. The Director now owns $1,873,692 of the stock according to ...|
|05/03/16 04:59 PM||Average Analyst Rating for NETGEAR, Inc. (NASDAQ:NTGR) - B.O.D.Y Confidential - Average Analyst Rating for NETGEAR, Inc. (NASDAQ:NTGR)B.O.D.Y ConfidentialWall Street analysts have provided an average broker recommendation of 2.5 on NETGEAR, Inc. (NASDAQ:NTGR) shares. The rating is determined by using the average of all analyst recommendations taken into consideration by Zacks Research.and more »|
|05/03/16 04:11 PM||5 Liquid Stocks with Solid Growth Potential - |
|04/29/16 05:07 PM||NETGEAR Inc. (NTGR) is Trading Higher on Unusual Volume for April 28 - Equities.com - NETGEAR Inc. (NTGR) is Trading Higher on Unusual Volume for April 28Equities.comNETGEAR Inc. (NTGR) experienced unusually high volume on Apr. 28, as the stock gained 10.6% to a closing price of $44.24. The stock saw 1.14 million shares trade hands over the course of the day on 9,371 trades. Given that the stock's average daily ...and more »|
|04/29/16 05:07 PM||Insider Trading Alert - NTGR, MDSO And LHO Traded By Insiders - Shares are up 5.51% year-to-date as of the close of trading on Thursday. NETGEAR, Inc. provides networking products to consumers, businesses, and service providers. The company operates in three segments: Retail, Commercial, and Service Provider.|
|04/29/16 03:27 PM||NETGEAR, Inc.: Strong price momentum but will it sustain? - |
|04/28/16 05:16 PM||NETGEAR Q1'16 Earnings Conference Call: Full Transcript - Benzinga - NETGEAR Q1'16 Earnings Conference Call: Full TranscriptBenzingaGreetings and welcome to the NETGEAR Inc First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder ...and more »|
|04/28/16 05:16 PM||NETGEAR Inc. (NTGR) Jumps 10.6% on April 28 - Equities.com - NETGEAR Inc. (NTGR) Jumps 10.6% on April 28Equities.comNETGEAR Inc. (NTGR) was among the biggest gainers on the Russell 2000 for Thursday April 28 as the stock popped 10.6% to $44.24, representing a gain of $4.24 per share. Some 1.14 million shares traded hands on 9,371 trades, compared with an ...and more »|
|04/28/16 05:16 PM||Netgear Inc. (NTGR) Has Jumped To A 4-Month High After Q1 Earnings Beat - RTT News - RTT NewsNetgear Inc. (NTGR) Has Jumped To A 4-Month High After Q1 Earnings BeatRTT NewsNetgear Inc. (NTGR) reported first quarter EPS of $0.74 after the close Wednesday, up from $0.46 in the previous year. Street expectations were for EPS of $0.60. Netgear gapped open higher Thursday and has spiked to the upside in early trade. The stock ...Insider Selling: NetGear, Inc. (NASDAQ:NTGR)'s director Jef Graham Sold 6150 sharesFranklin IndependentJef Graham Sells 6150 Shares of NetGear, Inc. (NTGR) StockWeb Breaking NewsShares Of Netgear (NASDAQ:NTGR) Rated As Buy By Analysts At RosenblattRisers & FallersFinance Daily -Motley Foolall 10 news articles »|
|04/28/16 05:16 PM||NETGEAR Inc. (NTGR) Jumps 10.6% on April 28 - NETGEAR Inc. (NTGR) was among the biggest gainers on the Russell 2000 for Thursday April 28 as the stock popped 10.6% to $44.24, representing a gain of $4.24 per share. Some 1.14 million shares traded hands on 9,371 trades, compared with an average daily ...|
|04/28/16 05:16 PM||NETGEAR's (NTGR) CEO Patrick Lo on Q1 2016 Results - Earnings Call Transcript - Greetings, and welcome to NETGEAR Inc. First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder ...|
|04/28/16 05:16 PM||Netgear Inc. (NTGR) Has Jumped To A 4-Month High After Q1 Earnings Beat - (RTTNews.com) - Netgear Inc. ( NTGR) reported first quarter EPS of $0.74 after the close Wednesday, up from $0.46 in the previous year. Street expectations were for EPS of $0.60. Netgear gapped open higher Thursday and has spiked to the upside in early trade.|
|04/28/16 01:28 PM||Why Netgear Inc. Stock Popped Today - |
|04/28/16 12:36 PM||ETF’s with exposure to NETGEAR, Inc. : April 28, 2016 - |
|04/28/16 11:43 AM||NETGEAR Q1'16 Earnings Conference Call: Full Transcript -
Greetings and welcome to the NETGEAR Inc First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Chris Genualdi, Investor Relations Manager. Please go ahead, Sir.
Christopher Genualdi: Investor Relations Manager:
Thank you, Operator. Good afternoon and welcome to NETGEAR's firth quarter 2016 financial results conference call. Joining us from the company are Mr. Patrick Lo, Chairman and CEO; and Ms. Christine Gorjanc, CFO.
The format of the call will be a little different than it had been in the past. We'll lead off with a review of the financials for the first quarter provided by Christine, followed by details and commentary on the business provided by Patrick, and finish with second quarter guidance provided by Christine. We will then have time for any questions. If you've not received a copy of today's release, please call NETGEAR Investor Relations or go to NETGEAR's corporate website at www.netgear.com.
Before we begin the formal remarks, we advise you that today's conference call contains forward-looking statements. Forward-looking statements include, among other things, statements regarding expected revenue, operating margins, tax rates, expenses, and future business outlook. Actual results or trends could differ materially from those contemplated by these forward-looking statements. For more information, please refer to the risk factors discussed in NETGEAR's periodic filings with the SEC, including the most recent Form 10-K. Any forward-looking statements that we make on this call are based on assumptions as of today and NETGEAR undertakes no obligation to update these statements as a result of new information or future events. In addition, several non-GAAP financial measures will be mentioned on this call. A reconciliation of the non-GAAP to GAAP measures can be found in our press release on the Investor Relations website at www.netgear.com.
At this time, I would now like to turn the call over to Ms. Christine Gorjanc.
Christine Gorjanc: Chief Financial Officer:
Thank you, Christopher. So the result of the first quarter of 2016 came in slightly above the high end of our guidance. We are pleased that each of our three business units met or slightly exceeded our expectations for the quarter.
For the first quarter ended April 3, 2016, net revenue was $310.3 million which is slightly up on a year-over-year basis and down 14% on a sequential basis. As noted on the prior earnings call, we expected a step down in our service provider revenue run rate during Q1 and the sequential decline in revenue both reflect this as well as typical Q1 seasonality for retail and commercial.
NETGEAR net revenue by geography reflects our continued strength in North America.
Net revenue for the Americas was $193.9 million, which is up 11.5% year-over-year. On a sequential basis, the Americas revenue was down 16.4%, which reflects the aforementioned step down in service provider as well as normal seasonality for our retail and commercial businesses. EMEA net revenue was $64.5 million, which is down 27.6% year-over-year and down 25.8% quarter-over-quarter. Similar to the Americas, the drop quarter-over-quarter in EMEA reflects reduced service provider revenue and normal seasonality for our retail business. Our APAC net revenue was $51.9 million for the first quarter of 2016, which is up 12.2% from the prior year's comparable quarter and up 23% quarter-over-quarter and we saw growth in all the major countries in the APAC region during Q1.
For the first quarter of 2016, we shipped a total of approximately 5.5 million units. The net revenue split between home and business products was about 77% and 23% respectively. Products introduced in the last 15 months constituted about 43% of our first quarter shipment, while products introduced in the last 12 months constituted about 31% of our first quarter shipment.
From this point on, my discussion points will focus on non-GAAP numbers. The reconciliation from GAAP to non-GAAP is detailed in our preliminary financial statements released earlier today. The non-GAAP gross margin in the first quarter of 2016 was 33.3% compared to 29.7% in the prior year comparable quarter and 30% in the fourth quarter of 2015. The year-over-year gross margin improvement reflects the reduction in service provider revenue, which typically carries a lower gross margin while the sequential improvement reflects a significant reduction in the use of air freight and leveraging our investment in inventory.
Total non-GAAP operating expenses came in at $66.5 million, which is up 4.9% year-over-year and down 3.7% sequentially. During Q116, we reduced the operating expenses in our service provider business unit to correspond with the reduced revenue outlook.
Our head count decreased by net 26 people to 937 due to the previously announced restructuring of the service provider business unit.
Our non-GAAP R&D expense for the first quarter was 6.9% of net revenue as compared to 6.3% in the year ago comparable period and 6.2% of net revenue during Q4 2015. We believe our investment in R&D is key to our business.
Our non-GAAP tax rate was 33% in the first quarter of 2016.
Looking at the bottom line for Q1, we reported non-GAAP net income of $24.6 million and non-GAAP diluted earnings per share of $0.74 per diluted share.
Turning to the balance sheet, we ended the first quarter of 2016 with $333.3 million in cash, cash equivalents, and short-term investments. For the first quarter of 2016, we generated approximately $59.8 million in free cash flow. We continue to remain very confident in NETGEAR's ability to generate meaningful levels of cash.
During the trailing four quarters, we generated approximately $162.2 million in free cash flow. We continue to be focused on optimizing the business and generating free cash flow which gives us flexibility with our operational needs as well as the ability to strategically deploy cash to enhance shareholder value.
In Q1, we spent $10 million to repurchase approximately 280,000 shares of NETGEAR common stock at an average price of $35.70 per share which resulted in no benefit to non-GAAP diluted earnings per share for the quarter. Since the start our repurchase activity in Q4, 2013, we have repurchased approximately 8.9 million shares and our diluted share count is lower by 15.1% as compared to the beginning of that period.
Now, turning to the results of our three business units; the Retail Business Unit or RBU generated net revenue of $157.5 million during the quarter which is up 30.2% on a year-over-year basis and down 20.2% sequentially. The Commercial Business Unit or CBU generated net revenue of $68.4 million for the first quarter of 2016, which is down 5.9% on a year-over-year basis and up 7.1% sequentially.
I'd like to highlight that weeks of stock for our US distribution channel stabilized during Q1 at 5.6 weeks, which is relatively flat with the prior quarter of 5.7 weeks. We believe the channel inventory levels for CBU are now better aligned with market demand.
For our Service Provider Business Unit or SPBU, net revenue came in at $84.3 million for the first quarter of 2016. This is down 27% year-over-year and down 15.2% on a sequential basis. We delivered revenue above our Q1 forecast largely due to the fulfillment of upside demand from one of our international service provider customers. This fulfillment of upside demand coupled with the completion of restructuring activities that we undertook early in the quarter, increased the business unit's profitability for Q1. As we have mentioned, we continue to closely manage the service provider business unit with a focus on profitability and we continue to expect that our service provider business will generate approximately $75 million in revenue per quarter for the remainder of 2016.
I’ll now turn the call over to Patrick for his commentary on the results of the three business units as well as the overall business, after which I will then provide guidance for the second quarter of 2016.
Patrick Lo: Chairman & Chief Executive Officer:
Thank you, Christine and thank you everyone for joining today's call. I'd like to use this opportunity to discuss a few key topics, which are; the evolution of the Home Wi-Fi market, our continued success with Arlo, the dynamics of our commercial business unit, and Q1 highlights for the Service Provider Business Unit.
As the numbers show, our Retail Business Unit continues to demonstrate impressive year-over-year growth driven by our focus on providing premium home Wi-Fi solutions and unique innovation for the smart home. The proliferation of connected devices and streaming media in the home continues to drive our home Wi-Fi business. According to our market study, there are about dozen connected devices in the average home today in North America and we expect that number will only continue to grow.
As we have spoken about several times on prior calls, we view Wi-Fi as the backbone of home connectivity. While the 802.11ac Wi-Fi standard has been available to consumers for some time now, we believe that it is still early in its adoption. Our estimate suggests that 802.11ac is installed in less than 30% of homes with broadband in the United States, which highlights just how much runway we have ahead of us in this upgrade cycle.
For the last two years, our original Nighthawk router has dominated the market for home Wi-Fi. We put a significant amount of R&D into not only the original Nighthawk, but also the subsequent Nighthawk products released with the belief that consumers would be willing to pay a premium for a better home Wi-Fi experience. This effort has paid off as our Wi-Fi router average selling price has increased approximately 50% during the last two years. We have witnessed a paradigm shift as home Wi-Fi has been elevated beyond utilitarian connectivity. It's about innovation not only in speed and range, but Wi-Fi stability, data traffic segmentation, ease of setup and use, and overall user experience.
We've stayed ahead of our competition by being first to market with key technologies such as Active Antennas and Tri-Band, both of which are features in our highest-end Nighthawk, the X8. Rest assured, we will continue to innovate and stay ahead in home Wi-Fi, as we have done for over 20 years.
As you all know, NETGEAR is no longer solely a networking company. Last year, we entered the smarthome market with a product that fundamentally changed what was possible in home security. The ability to put our wire-free Arlo cameras outside of the home un-tethered from power outlets made a true home security system something that the average consumer could afford. We expanded that line with the release of Arlo Q in January, and just this month, we announced the release of the third member of the family, Arlo Q Plus. Arlo Q Plus provides Power over Ethernet and ...Full story available on Benzinga.com|
|04/28/16 11:01 AM||Netgear, Inc. Goes 4 for 4 - |
|04/28/16 03:28 AM||NETGEAR's (NTGR) CEO Patrick Lo on Q1 2016 Results - Earnings Call Transcript - Seeking Alpha - NETGEAR's (NTGR) CEO Patrick Lo on Q1 2016 Results - Earnings Call TranscriptSeeking AlphaGreetings, and welcome to NETGEAR Inc. First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this ...|
|04/28/16 03:28 AM||Netgear Inc. (NTGR) Is Up After Q1 Earnings Surpassed Expectations - Netgear Inc. (NTGR) reported first quarter EPS of $0.74 after the close Wednesday, up from $0.46 in the previous year. Street expectations were for EPS of $0.60. The stock is now up 4 points on 43K shares. Netgear climbing into the green around mid-morning ...|
|04/27/16 10:22 PM||Netgear, Inc. (NTGR) Tops Q1 EPS by 14c - Netgear, Inc. (NASDAQ: NTGR) reported Q1 EPS of $0.74, $0.14 better than the analyst estimate of $0.60. Revenue for the quarter came in at $310.3 million versus the consensus estimate of $298.59 million. Patrick Lo, Chairman and Chief Executive Officer of ...|
|04/27/16 09:22 PM||Edited Transcript of NTGR earnings conference call or presentation 27-Apr-16 9:00pm GMT - |
|04/27/16 06:49 PM||NETGEAR's Strong Q1 Results Have Investors In Network Equipment Sector Cheering - NETGEAR, Inc. (NASDAQ: NTGR) shares have seen buying pressure Wednesday afternoon as investors are applauding better-than-expected first-quarter results.
The stock was last indicated at $44 even, up about 10 percent from the close of Wednesday's intraday session.
Elsewhere in the Network Equipment space, at least several other stocks are seeing upside action:
Extreme Networks, Inc (NASDAQ: ...Full story available on Benzinga.com|
|04/27/16 05:13 PM||NETGEAR, Inc. (NASDAQ:NTGR) Wall Street Rating in Focus - News Tribune - NETGEAR, Inc. (NASDAQ:NTGR) Wall Street Rating in FocusNews TribuneZacks.com, founded by Len Zacks, a Mathematics Ph.D. from M.I.T. who discovered that earnings estimate revisions are the most powerful force impacting stock prices, track 4 equity research firms that cover shares of NETGEAR, Inc. (NASDAQ:NTGR).and more »|