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Table of Contents
PART I
This Annual Report on Form 10-K (“Form 10-K”), including Management’s Discussion and Analysis of Financial Condition and Results
of Operations in Part II, Item 7 below, includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of
historical facts contained in this Form 10-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” in Part I, Item 1A below, and
elsewhere in this Form 10-K, including, among other things: the future growth of the commercial business, home user, and broadband service
provider markets; speed of adoption of wireless networking worldwide; our business strategies and development plans; our successful
introduction of new products and technologies; future operating expenses and financing requirements; and competition and competitive factors
in the commercial business, home user, and broadband service provider markets. In light of these risks, uncertainties and assumptions, the
forward-looking events and circumstances discussed in this Form 10-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 Form 10-
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 Form 10-K.
General
We are a global networking company that delivers innovative products to commercial businesses, home users, and broadband service
providers. For commercial businesses, we provide networking, storage and security solutions without the cost and complexity of traditional large
enterprise products. For consumers, we make high performance, dependable and easy to use home networking, storage and digital media
products to connect people to the Internet via communication, computing and entertainment devices. We also supply top broadband service
providers with retail proven, whole home networking solutions for their customers. Our products are built on a variety of proven technologies
such as WiFi, Ethernet and HomePlug powerline, with a focus on reliability and ease-of-use. We sell our products through multiple sales
channels worldwide, which includes traditional retailers, online retailers, wholesale distributors, direct market resellers, or DMRs, value added
resellers, or VARs, and broadband service providers. A discussion of factors potentially affecting our operations is set forth in “Risk Factors” in
Part I, Item 1A of this Form 10-K.
We were incorporated in Delaware on January 8, 1996. Our principal executive offices are located at 350 East Plumeria Drive, San Jose,
California 95134, 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 Exchange Act. You may read and copy our reports, proxy statements and
other information filed by us at the SEC’s Public Reference Room located at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information about the Public Reference Room. 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 these websites is not a part of this Form 10-K.
3
Item 1.
Business