April 15, 2013 / 9:10 PM / 4 years ago

Netgear estimates profit below analyst expectations

1 Min Read

April 15 (Reuters) - Network equipment maker Netgear Inc estimated first-quarter earnings and revenue below analysts' expectations, citing lower shipments.

The company cut its revenue estimate to $290 million-$295 million, from $290 million-$305 million.

It estimated adjusted earnings of 45 cents to 50 cents per share.

Analysts on average were expecting earnings of 59 cents per share on revenue of $299.7 million, according to Thomson Reuters I/B/E/S.

Shares of Netgear closed at $30.88 on the Nasdaq on Monday.

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