NETGEAR, INC. (NASDAQ:NTGR) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
NETGEAR, INC. (NASDAQ:NTGR) Files An 8-K Results of Operations and Financial Condition
On April 26, 2017, NETGEAR, Inc. (the “Company”) issued a press release announcing its financial results for its first>fiscal quarter ended April 2, 2017, the text of which is furnished herewith as Exhibit 99.1.
The information furnished to this Item 2.02 and the exhibit to this Current Report are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section. The information furnished to this Item 2.02 and the exhibit to this Current Report shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Events.
On April 26, 2017, in the same press release attached as Exhibit 99.1, the Company announced that its board of directors authorized a program to repurchase up to 3,000,000 shares of the Company’s common stock.
The stock repurchase authorization does not have an expiration date, and the pace of repurchase activity will depend on factors such as levels of cash generation from operations, cash requirements for acquisitions, current stock price and other factors. Under the program, the Company may repurchase shares from time to time on the open market. The Company will finance the repurchase program with available cash on hand. The stock repurchase program may be modified or discontinued at any time.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number Description
99.1 Press Release, dated April 26, 2017.
About NETGEAR, INC. (NASDAQ:NTGR)
NETGEAR, Inc. is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products. The commercial business unit consists of business networking, storage and security solutions. The service provider business unit consists of whole home networking hardware and software solutions, as well as fourth-generation long term evolution hotspots sold to service providers for sale to their subscribers. It has operations in the Americas, Europe, Middle-East and Africa, and Asia Pacific. The Company sells its products through multiple sales channels, including traditional retailers, online retailers, wholesale distributors, direct market resellers, value-added resellers and broadband service providers. NETGEAR, INC. (NASDAQ:NTGR) Recent Trading Information
NETGEAR, INC. (NASDAQ:NTGR) closed its last trading session down -1.55 at 51.35 with 542,866 shares trading hands.
NETGEAR, Inc. is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products. The commercial business unit consists of business networking, storage and security solutions. The service provider business unit consists of whole home networking hardware and software solutions, as well as fourth-generation long term evolution hotspots sold to service providers for sale to their subscribers. It has operations in the Americas, Europe, Middle-East and Africa, and Asia Pacific. The Company sells its products through multiple sales channels, including traditional retailers, online retailers, wholesale distributors, direct market resellers, value-added resellers and broadband service providers. NETGEAR, INC. (NASDAQ:NTGR) Recent Trading Information
NETGEAR, INC. (NASDAQ:NTGR) closed its last trading session down -1.55 at 51.35 with 542,866 shares trading hands.