Stock Monitor: AudioCodes Post Earnings Reporting
LONDON, UK / ACCESSWIRE / July 31, 2018 / If you want access to our free earnings report on NETGEAR, Inc. (NASDAQ: NTGR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NTGR. The Company reported its second quarter fiscal 2018 operating and financial results on July 23, 2018. The maker of networking equipment outperformed top- and bottom-line expectations. Additionally, the Company provided its guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, NETGEAR most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the second quarter ended July 01, 2018, NETGEAR's net revenues were $366.8 million, up 11% compared to $330.7 million in the quarter ended July 02, 2017. The Company's revenue numbers beat analysts' estimates of $351.0 million.
During Q2 2018, NETGEAR's GAAP operating margin was negative 0.8% compared to 5.8% in Q2 2017. The Company's non-GAAP operating margin was 5.9% in the reported quarter compared to 8.5% in the prior year's same quarter.
For Q2 2018, NETGEAR reported a GAAP net loss of $5.2 million, or $0.17 loss per diluted share compared to a GAAP net income of $14.6 million, or $0.44 per diluted share, in Q2 2017. The Company's non-GAAP net income was $0.57 per diluted share in the reported quarter versus $0.60 per diluted share in the year earlier comparable quarter, and was ahead of Wall Street's estimates of $0.52 per share.
For Q2 2018, NETGEAR shipped a total of approximately 5.1 million units, including 4.1 million nodes of wireless products. Shipments of the Company's wired and wireless routers and gateways combined were about 1.6 million units in the reported quarter. During Q2 2018, NETGEAR's net revenues split between home and business products were about 81% and 19%, respectively. The net revenues split between wireless and wired products were about 77% and 23%, respectively.
NETGEAR's products introduced in the last 15 months constituted about 42% of its second quarter shipments, while its products introduced in the last 12 months constituted about 35% of its reported quarter shipments.
During Q2 2018, NETGEAR's net revenues from the Americas advanced 14.5% to $259.8 million on a y-o-y basis. The Company's net revenues from Europe, Middle-East, and Africa (EMEA) were $68.7 million in Q2 2018, up 24.4% compared to the year ago corresponding period. NETGEAR's Asia/Pacific (APAC)'s net revenues were $38.3 million in Q2 2018, down 21.1% from Q2 2017, primarily due to a weakness in the service provider channel in Australia.
NETGEAR ended Q2 2018 with $355.6 million in cash. For the reported quarter, the Company used cash flow from operations of $16.9 million, bringing the Company's total cash flow generated over the trailing twelve months to $124.2 million. Additionally, NETGEAR used $10.2 million in purchases of property and equipment during Q2 2018, bringing its cash used for capital expenditure to $20.9 million over the trailing 12 months.
Looking forward to the third quarter of 2018, NETGEAR is forecasting net revenues to be in the range of $380 million to $395 million. The Company's GAAP operating margin is expected to be in the band of negative 2.2% to negative 1.2% for the upcoming quarter, which includes approximately $11.0 million of one-time costs associated with the separation, including professional services fees, for various advisory and audit related costs. The Company's non-GAAP operating margin is expected to be in the range of 4.0% to 5.0% for Q3 2018.
Stock Performance Snapshot
July 30, 2018 - At Monday's closing bell, NETGEAR's stock declined 4.69%, ending the trading session at $66.00.
Volume traded for the day: 747.54 thousand shares, which was above the 3-month average volume of 327.80 thousand shares.
Stock performance in the last month – up 6.19%; previous three-month period – up 19.35%; past twelve-month period – up 31.61%; and year-to-date – up 12.34%
After yesterday's close, NETGEAR's market cap was at $2.07 billion.
Price to Earnings (P/E) ratio was at 56.46.
The stock is part of the Technology sector, categorized under the Communication Equipment industry.
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