NETGEAR reported Q4 net revenue of $86.8 million, up 21% as compared to $71.9 million for Q4 2002 and up 15% compared to $75.8 million in Q3 2003. Net income (GAAP) was $3.9 million, or $0.14 per basic share and $0.12 per diluted share .
NETGEAR cited strong demand for its wireless and broadband products worldwide, as it introduced 12 new products during the quarter. Growth in units and the increase in ASP (average selling price) was driven by the introduction of its “Super G” 108Mbps wireless products in Q3 2003 and the DSL 2 broadband gateways in Q4 2003. Shipments of wireless nodes exceeded one million units in the fourth quarter, representing growth of approximately 30% over the prior third quarter. Shipments of wired and wireless broadband routers/gateways exceeded 675,000 units in the fourth quarter of 2003, representing an increase of approximately 45% over the prior third quarter. Sales of Ethernet switches continued to be strong, growing 7% in units sequentially.
Gross margin for Q4 was 29.1%, as compared to 27.8% in the prior quarter. http://www.netgear.com
