SAN JOSE, Calif. (AP) — Netgear Inc. (NTGR) on Thursday reported third-quarter earnings of $9.9 million.
On a per-share basis, the San Jose, California-based company said it had profit of 30 cents. Earnings, adjusted for one-time gains and costs, came to 76 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The maker of networking equipment posted revenue of $400.6 million in the period.
For the current quarter ending in December, Netgear said it expects revenue in the range of $430 million to $445 million. Analysts surveyed by Zacks had expected revenue of $443 million.
Netgear shares have declined slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $56.21, a climb of 17 percent in the last 12 months.