We will look to build on this momentum in the year ahead. We're also pleased to announce that our Retail Business Unit posted its highest annual revenue in Company history. Ended the year with cash, cash equivalents, and short-term investments of $366 million.ĬEO Patrick Lo stated: 2016 was another successful year for NETGEAR, as we delivered many new and exciting products to our customers, gained share in the key markets that we serve and delivered compelling earnings growth for our shareholders.Repurchased roughly 299,000 shares during the quarter for $15 million, or an average price of $50.17 per share.
#SPBU STOCK QUOTE FREE#
Generated $19.8 million in free cash flow. a 48.3% decline in service provider segment (SPBU) revenue, to $51.4 million, slightly below the $55 million run rate management suggested for the SPBU last quarter, but well within expectations given lumpiness in the business. 17.9% growth in commercial business unit (CBU) revenue, to $75.3 million, driven by strength in Netgear's switching product portfolio. 22.1% growth in retail business unit (RBU) revenue, to $241.2 million, driven by continued strength in the Nighthawk, Arlo, and Orbi product lines. Asia-Pacific revenue grew 6.8%, to $45.1 million. EMEA revenue fell 20.3%, to $69.2 million. Americas revenue grew 9.4% year over year to $253.7 million. By comparison, Netgear's most recent guidance called for fourth-quarter revenue in the range of $340 million to $355 million and adjusted operating margin in the range of 10.5% to 11.5%. 
Adjusted operating margin improved 60 basis points year over year, to 11.4%.
On a non-GAAP (adjusted) basis - which excludes items like stock-based compensation and restructuring expenses - net income grew 8.6% year over year, to $29.9 million, and adjusted net income per share grew 6% to $0.88.
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