Bryan Murray, Chief Financial Officer of NETGEAR, added, "We expect to continue to experience strong underlying demand in the SMB business and the premium portion of our CHP product portfolio, even in the face of ongoing broad-based inflationary pressures and an uncertain macroeconomic environment. We will continue to work with our channel partners across both businesses to optimize their inventory carrying levels, and expect a revenue impact from these efforts to be at a similar level as experienced in the first quarter. Accordingly, we expect our second quarter net revenue to be in the range of $150 million to $165 million. We expect second quarter GAAP operating margin to be in the range of (13.4)% to (10.4)%, and non-GAAP operating margin is expected to be in the range of (9.0)% to (6.0)%. Our GAAP tax rate is expected to be approximately 11.0%, and our non-GAAP tax rate is expected to be 6.0% for the second quarter of 2023."
Published first on TheFly
