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Table of Contents
PARTI
This Form10-K, including Management’s Discussion and Analysis of Financial Condition and Results of Operations in PartII, Item7
below, includes forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended, and
Section21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in
this Form10-K, including statements regarding our future financial position, business strategy and plans and objectives of
management for future operations, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements largely on our current expectations and projections about future events
and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions described in “Risk Factors Affecting
Future Results” in PartII, Item7 below, and elsewhere in this Form10-K, including, among other things: the future growth of the small
business and home markets; our business strategies and development plans; new products and technologies; future operating
expenses and financing requirements; and competition and competitive factors in the small business and home markets. In light of
these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Form10-K may not occur
and actual results could differ materially from those anticipated or implied in the forward-looking statements. All forward-looking
statements in this Form10-K are based on information available to us as of the date hereof and we assume no obligation to update any
such forward-looking statements. The following discussion should be read in conjunction with our consolidated financial statements
and the accompanying notes contained in this Form10-K.
Item1.
Business
General
We design, develop and market networking products for small business, which we define as a business with fewer than 250
employees, and home users. We are focused on satisfying the ease-of-use, quality, reliability, performance and affordability
requirements of these users. Our product offerings enable users to share Internet access, peripherals, files, digital multimedia content
and applications among multiple personal computers, or PCs, and other Internet-enabled devices. We sell our products primarily
through a global sales channel network, which includes traditional retailers, online retailers, direct market resellers, or DMRs, value
added resellers, or VARs, and broadband service providers. A summary of our net revenue and assets for our business is found in
Note8 to the Consolidated Financial Statements under PartII, Item8 of this Form10-K. A discussion of factors potentially affecting our
operations is set forth in “Management’s Discussion and Analysis of Financial Condition and Results of Operations— Risk Factors
Affecting Future Results,” under PartII, Item7 of this Form10-K.
We were incorporated in Delaware on January8, 1996. Our principal executive offices are located at 4500Great America Parkway,
SantaClara, California 95054, and our telephone number at that location is (408)907-8000. We file reports, proxy statements and other
information with the Securities and Exchange Commission, or SEC, in accordance with the Securities Exchange Act of 1934, as
amended, or the Exchange Act. You may read and copy our reports, proxy statements and other information filed by us at the public
reference room of the SEC located at 450Fifth Street,N.W., Washington,D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further
information about the public reference rooms. Our filings are also available to the public over the Internet at the SEC’s website at
http://www.sec.gov
, and, as soon as practicable after such reports are filed with the SEC, free of charge through a hyperlink on our
Internet website at
http://www.netgear.com
. Information contained on the website is not a part of this Form10-K.
Product Offerings
Our products are grouped into three major product lines within the small business and home markets: Ethernet networking products,
broadband products and wireless networking products, with each product group
2
2005. EDGAR Online, Inc.