Oh Lordy Lord Netgear is going down like the frigging Hindenburg this morning. Entry from Briefing:
"Based based on preliminary data available at this time, net revenue for the third quarter ended September 28, 2008 is expected to be in the range of $173-$183 mln (consensus is $210 mln), down from previous range of $208-$212 mln. The co expects non-GAAP operating margin to be in the range of 10.3% to 11.3% versus the company's previous expectation of approximately 9.5% to 10.5%. Additionally the company expects to report other expense in the range of $4.5 million to $5.5 million in relation to losses on transactions denominated in foreign currencies. "We experienced weakness in September demand on our consumer products across all channels and in all geographies, particularly in the service provider channel, where our carrier customers worldwide requested shipment delays on previously placed orders, thereby preventing us from recognizing revenue on those orders."
Now I want you to play close attention to the "Additionally the company expects to report other expense in the range of $4.5 million to $5.5 million in relation to losses on transactions denominated in foreign currencies."
Foreign currency translation is going to fuck over a lot of exporters during Q3 season. Are you paying attention shareholders of shit like IBM and CAT and HPQ?
Wednesday, October 8, 2008
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1 comment:
if you are so smart, lay out what you want us to short!
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