1 day Ago By David Richards
Netgear Australia whose consumer networking is seen as some of the most expensive sold by retailers has reported a$9M slump in sales but that has not stopped the Company raking in an increase in profits of $1.9M over what they delivered in the previous financial year. According to their latest filing the Company only managed to deliver $59.
282 million in sales as of December 2024 Vs $67.939 million in 2023. The Company whose W7 and W6 routers are among the most expensive being sold by retailers such as Harvey Norman and JB Hi Fi as well as in the specialist PC channel have delivered a dramatic increase in profits with the local operation of the US business deliver $2.
274M in profits Vs $359,000 in 2023. During the period two people resigned as directors of the local Company including P Lo and AW Kim. They were replaced with Melbourne based Graeme McLindin, Global Business and Technology Product Leader in the mobile market.
and Bryan Murray who has served as Netgear’s Chief Financial Officer since August 2018. Also appointed was K J Daru. The business that is not paying any dividends this year Vs $14M last year, they are also not commenting on future earning or the impact of US Tariffs on the business.
Year to Date Netgear shares is down 11.6% however analysts are confident that the business is being turned around following the appointment new management. Netgear Australia whose consumer networking is seen as some of the most expensive sold by retailers has reported a$9M slump in sales but that has not stopped the Company raking in an increase in profits of $1.
9M over what they delivered in the previous financial year. According to their latest filing the Company only managed to deliver $59.282 million in sales as of December 2024 Vs $67.
939 million in 2023. The Company whose W7 and W6 routers are among the most expensive being sold by retailers such as Harvey Norman and JB Hi Fi as well as in the specialist PC channel have delivered a dramatic increase in profits with the local operation of the US business deliver $2.274M in profits Vs $359,000 in 2023.
During the period two people resigned as directors of the local Company including P Lo and AW Kim. They were replaced with Melbourne based Graeme McLindin, Global Business and Technology Product Leader in the mobile market. and Bryan Murray who has served as Netgear’s Chief Financial Officer since August 2018.
Also appointed was K J Daru. The business that is not paying any dividends this year Vs $14M last year, they are also not commenting on future earning or the impact of US Tariffs on the business. Year to Date Netgear shares is down 11.
6% however analysts are confident that the business is being turned around following the appointment new management. During the past week, their share value has climbed 5.6%.
Te increases in their share value was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 13.7% loss over the past four weeks.
The increase in share price can attributed to President Trump’s announcement of a 90-day pause on reciprocal tariffs, barring China. Strength in the Netgear for Business (“NFB”) market as well as pickup in their global sales for ProAV managed switch products which grew in double digits year over year is contributing to the Companies turnaround. Revenues from the NFB segment jumped 14.
9% and 2.9% sequentially to $80.8 million during the last reporting period.
During the past week, their share value has climbed 5.6%. Te increases in their share value was backed by solid volume with far more shares changing hands than in a normal session.
This compares to the stock’s 13.7% loss over the past four weeks. The increase in share price can attributed to President Trump’s announcement of a 90-day pause on reciprocal tariffs, barring China.
Strength in the Netgear for Business (“NFB”) market as well as pickup in their global sales for ProAV managed switch products which grew in double digits year over year is contributing to the Companies turnaround. Revenues from the NFB segment jumped 14.9% and 2.
9% sequentially to $80.8 million during the last reporting period..
