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Table of Contents
Our net revenue consists of gross product shipments, less allowances for estimated returns for stock rotation and warranty, price protection, end-
user customer rebates and other sales incentives deemed to be a reduction of net revenue and net changes in deferred revenue.
2013 vs 2012
Net revenue increased $97.7 million , or 7.7% , to $1.37 billion for the year ended December 31, 2013 , from $1.27 billion
for the year ended
December 31, 2012
. The increase in net revenue was primarily attributable to increased sales of our mobile products acquired through our acquisition of
AirCard, home security monitoring and automation products, and switches, partially offset by a decrease in sales of our broadband gateways. We
experienced an increase in revenues in the Americas and APAC regions, and a decrease in EMEA. In addition, our service provider, retail and
commercial business increased year-over-year.
2012 vs 2011
Net revenue increased $90.9 million, or 7.7%, to $1.27 billion for the year ended December 31, 2012, from $1.18 billion for the year ended
December 31, 2011. The increase in net revenue was primarily attributable to increased sales of broadband gateway products and home wireless
products, partially offset by a decrease in sales of our network storage products.
Refer to "Net Revenue by Geographic Region" and "Segment Information" for further discussion of net revenue by geographic region and segment
respectively.
Net Revenue by Geographic Region
2013 vs 2012
The increase in Americas net revenue was primarily attributable to increased sales of our mobile products acquired through our acquisition of
AirCard, home security monitoring and automation products, and switches, partially offset by a decrease in sales of our broadband gateways. The
decrease in EMEA net revenue was primarily attributable to a decrease in sales of our broadband gateways and home wireless products. The decrease in
sales of our broadband gateways is partially due to the consolidation among cable operators in Europe in the second half of 2013. The increase in APAC
was primarily attributable to increased sales of our mobile products acquired through our acquisition of AirCard, home wireless products, and switches,
partially offset by a decrease in sales of our broadband gateways.
Americas continues to represent the largest percentage of our net revenues, and APAC increased as a percentage of revenue, primarily due to
growth in the region. EMEA decreased as a percentage of revenues as we continued to see macroeconomic weakness in the European market.
43
Year Ended December 31,
2013
% Change
2012
% Change
2011
(In thousands, except percentage data)
Total net revenue
$
1,369,633
7.7
%
$
1,271,921
7.7
%
$
1,181,018
Year Ended December 31,
2013
% Change
2012
% Change
2011
(In thousands, except percentage data)
Americas
$
789,318
16.2
%
$
679,419
15.7
%
$
587,056
Percentage of net revenue
57.7
%
53.4
%
49.7
%
EMEA
$
412,688
(9.8
)%
$
457,724
(4.2
)%
$
477,713
Percentage of net revenue
30.1
%
36.0
%
40.4
%
APAC
$
167,627
24.4
%
$
134,778
15.9
%
$
116,249
Percentage of net revenue
12.2
%
10.6
%
9.8
%