Exhibit 99.1

NETGEAR^® REPORTS SECOND QUARTER 2010 RESULTS

Second Quarter 2010 Financial Highlights:

• Net revenue of $195.9 million, compared to $144.7 million in the comparable prior year quarter, 35% year-over-year growth

• Non-GAAP net income of $13.7 million, compared to net loss of $522,000 in the comparable prior year quarter

• Non-GAAP diluted earnings per share of $0.38, compared to diluted loss per share of $0.02 in the comparable prior year quarter

• Company expects third quarter 2010 net revenue to be in the range of $215 million to $225 million, with non-GAAP operating margin in the range of 11% to 12%

SAN JOSE, California – July 21, 2010 – NETGEAR, Inc. (NASDAQGM: NTGR), a worldwide provider of technologically innovative, branded networking products, today reported financial results for the second quarter ended June 27, 2010.

Net revenue for the second quarter ended June 27, 2010 was $195.9 million, as compared to $144.7 million for the second quarter ended June 28, 2009, and as compared to $211.6 million in the first quarter ended March 28, 2010. Net income, computed in accordance with GAAP, for the second quarter of 2010 was $10.5 million, or $0.29 per diluted share. This compared to GAAP net loss of $3.3 million, or $0.10 per diluted share, for the second quarter of 2009, and to GAAP net income of $13.7 million, or $0.38 per diluted share, in the first quarter of 2010.

Gross margin on a non-GAAP basis in the second quarter of 2010 was 36.3%, as compared to 29.6% in the second quarter of 2009, and 35.2% in the first quarter of 2010. Non-GAAP operating margin was 13.1% in the second quarter of 2010, as compared to 3.7% in the second quarter of 2009, and 13.5% in the first quarter of 2010. Non-GAAP net income was $0.38 per diluted share in the second quarter of 2010, as compared to non-GAAP net loss of $0.02 per diluted share in the second quarter of 2009, and non-GAAP net income of $0.48 per diluted share in the first quarter of 2010.

The differences between GAAP and non-GAAP financial measures include adjustments, net of any tax effect, for amortization of purchased intangibles, stock-based compensation, restructuring, acquisition related compensation, and litigation reserves. The accompanying schedules provide a reconciliation of financial measures computed on a GAAP basis to financial measures computed on a non-GAAP basis.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR commented, “For the second quarter of 2010, we are pleased with our year on year growth in all three geographic regions, especially with our 48% growth in North America. While the U.S. retail market grew strongly year over year, we also achieved the number one market share position in the networking category for the first time. We are also pleased to see a continuous recovery of demand among small business customers worldwide. Our net revenue from service providers was approximately 16% of total net revenue in the second quarter 2010, as compared to 30% in the second quarter of 2009, and 19% in the first quarter of 2010. We expect the percentage of service provider revenue to increase when our service provider customers worldwide begin rolling out Docsis 3.0 equipment in the second half of 2010.

We believe our strength in the market is primarily due to our superior new product introductions as compared to our competitors worldwide. In the second quarter of 2010, we introduced 18 new products. Notable new products include our ReadyNAS^® 4 Bay and 12 Bay Rackmount, our Wi-Fi^TM adapters for TVs, our 11n Wi-Fi repeaters for TVs to IP set top boxes, and our 28 and 52 port Stackable Layer 3 Managed Switches. Due to our on-going commitment to research and development, we expect our pace of new product introductions to accelerate in the third quarter of 2010, with 20 or more new products expected to be launched. For example, our newest high-end consumer network storage ReadyNAS Ultra is leading the way as the first network attached storage device that is networkable to TiVo^® boxes.

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The ReadyNAS Ultra will enable customers to have up to 12 TB, or approximately 2,000 hours of centralized recorded high definition TV shows serving any and all TiVo boxes in a home.”

Christine Gorjanc, Chief Financial Officer of NETGEAR, said, “We ended the second quarter of 2010 with $231.0 million in cash, cash equivalents and short-term investments, compared to $224.5 million at the end of the second quarter of 2009, and $240.9 million at the end of the first quarter of 2010. Our net inventory ended at $125.7 million, compared to $75.0 million at the end of the second quarter of 2009, and $109.9 million at the end of the first quarter of 2010.”

Net revenue by geography comprises gross revenue less such items as marketing incentives paid to customers, sales returns and price protection. The following table shows net revenue by geography for the periods indicated:

Net revenue by geography:

	Three months ended
	June 27, 2010				March 28, 2010				June 28, 2009
North America	$	102,471	52	%	$	106,278	50	%	$	69,438	48	%
Europe, Middle-East and Africa		68,598	35	%		81,135	38	%		54,249	37	%
Asia Pacific		24,880	13	%		24,142	12	%		20,987	15	%
	$	195,949	100	%	$	211,555	100	%	$	144,674	100	%

Looking forward, Mr. Lo added, “We continue to see market demand growth in all three geographic regions, and in all product categories. Our success has been driven by innovative product introductions and we expect to outpace our competitors in the number of new product introductions for the foreseeable future. Despite the recent financial market challenges in Europe, we continue to see growth in end market demand for NETGEAR products in this region from both consumers and businesses, in both local currency and U.S. Dollar terms. For the third quarter 2010, we expect net revenue in the range of approximately $215 million to $225 million, with non-GAAP operating margin to be in the range of 11% to 12%.”

Investor Conference Call / Webcast Details

NETGEAR will review the second quarter 2010 results and discuss management’s expectations for the third quarter of 2010 today, Wednesday, July 21, 2010 at 5 p.m. EDT (2 p.m. PDT). The dial-in number for the live audio call is (201) 689-8560. A live webcast of the conference call will be available on NETGEAR’s website at www.netgear.com. A replay of the call will be available 2 hours following the call through midnight EDT (9 p.m. PDT) on Wednesday, July 28, 2010 by telephone at (858) 384-5517 and via the web at www.netgear.com. The conference ID number to access the phone replay is 353684.

About NETGEAR, Inc.

NETGEAR (NASDAQGM: NTGR) designs innovative, branded technology solutions that address the specific networking, storage, and security needs of small- to medium-sized businesses and home users. The company offers an end-to-end networking product portfolio to enable users to share Internet access, peripherals, files, multimedia content, and applications among multiple computers and other Internet-enabled devices. Products are built on a variety of proven technologies such as wireless, Ethernet and powerline, with a focus on reliability and ease-of-use. NETGEAR products are sold in about 27,000 retail locations around the globe, and via approximately 36,000 value-added resellers. The company’s headquarters are in San Jose, Calif., with additional offices in 25 countries. NETGEAR is an ENERGY STAR® partner. More information is available by visiting www.netgear.com or calling (408) 907-8000. Follow NETGEAR at http://twitter.com/NETGEAR and http://www.facebook.com/netgear.

© 2010 NETGEAR, Inc. NETGEAR, the NETGEAR logo and ReadyNAS are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. TiVo is a registered trademark of TiVo Inc. Wi-Fi is a trademark of the Wi-Fi Alliance. The information contained herein is subject to change without notice. NETGEAR shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved.

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Contact:

Joseph Villalta

The Ruth Group

(646) 536-7003

jvillalta@theruthgroup.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate”, “expect”, “believe”, “will”, “may”, “should”, “estimate”, “project”, “outlook”, “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent NETGEAR, Inc.’s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements, among others, regarding NETGEAR’s expected revenue, earnings, gross and operating margin and operating income on both a GAAP and non-GAAP basis, expectations of outpacing competitors in new product introductions, larger revenue share from service provider customers during the second half of 2010, Docsis 3.0 products deployment by our service provider customers, product capabilities, our ability and intent to launch new product offerings and continue product development efforts, current and future demand for the Company’s existing and anticipated new products, and our ability to increase market share for the Company’s products globally. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: future demand for the Company’s products may be lower than anticipated; consumers may choose not to adopt the Company’s new product offerings or adopt competing products; product performance may be adversely affected by real world operating conditions; the Company may be unsuccessful or experience delays in manufacturing and distributing its new and existing products; telecommunications service providers may choose to slow their deployment of the Company’s products or utilize competing products; the Company may be unable to collect receivables as they become due; the Company may fail to manage costs, including the cost of developing new products and manufacturing and distribution of its existing offerings; channel inventory information reported is estimated based on the average number of weeks of inventory on hand on the last Saturday of the quarter, as reported by certain of NETGEAR’s customers; changes in the level of NETGEAR’s cash resources and the Company’s planned usage of such resources; changes in the Company’s stock price and developments in the business that could increase the Company’s cash needs, fluctuations in foreign exchange rates, and the actions and financial health of the Company’s customers. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Part II - Item 1A. Risk Factors,” pages 32 through 47, in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 28, 2010, filed with the Securities and Exchange Commission on May 6, 2010. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Information:

To supplement our consolidated financial statements presented on a GAAP basis, NETGEAR uses non-GAAP financial measures, which are adjusted to exclude certain expenses and tax benefits, where applicable. We believe non-GAAP financial measures are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of NETGEAR’s underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial measures prepared in accordance with generally accepted accounting principles in the United States.

-Financial Tables Attached-

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NETGEAR, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

	June 27, 2010		December 31, 2009
ASSETS
Current assets:
Cash and cash equivalents	$	110,940	$	172,202
Short-term investments		120,090		74,898
Accounts receivable, net		138,730		162,853
Inventories		125,687		90,590
Deferred income taxes		14,248		13,347
Prepaid expenses and other current assets		25,996		20,835
Total current assets		535,691		534,725
Property and equipment, net		16,482		16,891
Intangibles, net		7,672		8,298
Goodwill		74,032		64,908
Other non-current assets		8,990		8,299
Total assets	$	642,867	$	633,121
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	42,337	$	69,081
Accrued employee compensation		14,816		11,040
Other accrued liabilities		90,669		87,894
Deferred revenue		17,405		22,106
Income taxes payable		—		5,488
Total current liabilities		165,227		195,609
Non-current income taxes payable		19,837		17,479
Other non-current liabilities		5,697		5,880
Total liabilities		190,761		218,968
Stockholders’ equity:
Common stock		35		35
Additional paid-in capital		294,450		280,256
Cumulative other comprehensive income		246		24
Retained earnings		157,375		133,838
Total stockholders’ equity		452,106		414,153
Total liabilities and stockholders’ equity	$	642,867	$	633,121

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NETGEAR, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

	Three months ended									Six months ended
	June 27, 2010			March 28, 2010			June 28, 2009			June 27, 2010			June 28, 2009
Net revenue	$	195,949		$	211,555		$	144,674		$	407,504		$	296,692
Cost of revenue		126,387			138,731			103,414			265,118			212,501
Gross profit		69,562			72,824			41,260			142,386			84,191
Operating expenses:
Research and development		9,945			9,305			7,496			19,250			14,849
Sales and marketing		30,358			30,789			24,464			61,147			50,366
General and administrative		8,397			8,942			7,855			17,339			16,092
Restructuring		(81	)		13			18			(68	)		694
Litigation reserves, net		143			68			8			211			2,540
Total operating expenses		48,762			49,117			39,841			97,879			84,541
Income (loss) from operations		20,800			23,707			1,419			44,507			(350	)
Interest income		100			70			178			170			482
Other income (expense), net		132			(194	)		(443	)		(62	)		604
Income before income taxes		21,032			23,583			1,154			44,615			736
Provision for income taxes		10,567			9,856			4,434			20,423			7,786
Net income (loss)	$	10,465		$	13,727		$	(3,280	)	$	24,192		$	(7,050	)
Net income (loss) per share:
Basic	$	0.30		$	0.39		$	(0.10	)	$	0.69		$	(0.21	)
Diluted	$	0.29		$	0.38		$	(0.10	)	$	0.67		$	(0.21	)
Weighted average shares outstanding used to compute net income (loss) per share:
Basic		35,237			34,947			34,399			35,095			34,375
Diluted		35,943			35,716			34,399			35,843			34,375
Stock-based compensation expense was allocated as follows:
Cost of revenue	$	227		$	279		$	238		$	506		$	480
Research and development		572			581			512			1,153			1,032
Sales and marketing		1,193			1,212			1,027			2,405			2,082
General and administrative		1,131			1,069			919			2,200			2,018

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NETGEAR, INC.

NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Excluding amortization of purchased intangibles, stock-based compensation, restructuring, acquisition related compensation, and litigation reserves, net of tax.

(In thousands, except per share data)

(Unaudited)

	Three months ended								Six months ended
	June 27, 2010		March 28, 2010			June 28, 2009			June 27, 2010			June 28, 2009
Net revenue	$	195,949	$	211,555		$	144,674		$	407,504		$	296,692
Cost of revenue		124,835		137,151			101,922			261,986			209,514
Gross profit		71,114		74,404			42,752			145,518			87,178
Operating expenses:
Research and development		9,066		8,385			6,984			17,451			13,817
Sales and marketing		29,165		29,577			23,437			58,742			48,284
General and administrative		7,266		7,873			6,936			15,139			14,074
Total operating expenses		45,497		45,835			37,357			91,332			76,175
Income from operations		25,617		28,569			5,395			54,186			11,003
Interest income		100		70			178			170			482
Other income (expense), net		132		(194	)		(443	)		(62	)		604
Income before income taxes		25,849		28,445			5,130			54,294			12,089
Provision for income taxes		12,121		11,386			5,652			23,507			11,196
Net income (loss)	$	13,728	$	17,059		$	(522	)	$	30,787		$	893
Net income (loss) per share:
Basic	$	0.39	$	0.49		$	(0.02	)	$	0.88		$	0.03
Diluted	$	0.38	$	0.48		$	(0.02	)	$	0.86		$	0.03
Weighted average shares outstanding used to compute net income (loss) per share:
Basic		35,237		34,947			34,399			35,095			34,375
Diluted		35,943		35,716			34,399			35,843			34,691

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NETGEAR, INC.

RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES

(In thousands, except per share data)

(Unaudited)

STATEMENT OF OPERATIONS DATA:

	Three months ended									Six months ended
	June 27, 2010			March 28, 2010			June 28, 2009			June 27, 2010			June 28, 2009
GAAP gross profit	$	69,562		$	72,824		$	41,260		$	142,386		$	84,191
Amortization of intangible assets		1,325			1,301			1,254			2,626			2,507
Stock-based compensation expense		227			279			238			506			480
Non-GAAP gross profit	$	71,114		$	74,404		$	42,752		$	145,518		$	87,178
Non-GAAP gross margin		36.3	%		35.2	%		29.6	%		35.7	%		29.4	%
GAAP research and development	$	9,945		$	9,305		$	7,496		$	19,250		$	14,849
Stock-based compensation expense		(572	)		(581	)		(512	)		(1,153	)		(1,032	)
Acquisition related compensation		(307	)		(339	)		—			(646	)		—
Non-GAAP research and development	$	9,066		$	8,385		$	6,984		$	17,451		$	13,817
GAAP sales and marketing	$	30,358		$	30,789		$	24,464		$	61,147		$	50,366
Stock-based compensation expense		(1,193	)		(1,212	)		(1,027	)		(2,405	)		(2,082	)
Non-GAAP sales and marketing	$	29,165		$	29,577		$	23,437		$	58,742		$	48,284
GAAP general and administrative	$	8,397		$	8,942		$	7,855		$	17,339		$	16,092
Stock-based compensation expense		(1,131	)		(1,069	)		(919	)		(2,200	)		(2,018	)
Non-GAAP general and administrative	$	7,266		$	7,873		$	6,936		$	15,139		$	14,074
GAAP total operating expenses	$	48,762		$	49,117		$	39,841		$	97,879		$	84,541
Stock-based compensation expense		(2,896	)		(2,862	)		(2,458	)		(5,758	)		(5,132	)
Restructuring		81			(13	)		(18	)		68			(694	)
Acquisition related compensation		(307	)		(339	)		—			(646	)		—
Litigation reserves		(143	)		(68	)		(8	)		(211	)		(2,540	)
Non-GAAP total operating expenses	$	45,497		$	45,835		$	37,357		$	91,332		$	76,175

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NETGEAR, INC.

RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED)

(In thousands, except per share data)

(Unaudited)

STATEMENT OF OPERATIONS DATA (CONTINUED):

	Three months ended									Six months ended
	June 27, 2010			March 28, 2010			June 28, 2009			June 27, 2010			June 28, 2009
GAAP operating income (loss)	$	20,800		$	23,707		$	1,419		$	44,507		$	(350	)
Amortization of intangible assets		1,325			1,301			1,254			2,626			2,507
Stock-based compensation expense		3,123			3,141			2,696			6,264			5,612
Restructuring		(81	)		13			18			(68	)		694
Acquisition related compensation		307			339			—			646			—
Litigation reserves		143			68			8			211			2,540
Non-GAAP operating income	$	25,617		$	28,569		$	5,395		$	54,186		$	11,003
Non-GAAP operating margin		13.1	%		13.5	%		3.7	%		13.3	%		3.7	%
GAAP net income (loss)	$	10,465		$	13,727		$	(3,280	)	$	24,192		$	(7,050	)
Amortization of intangible assets		1,325			1,301			1,254			2,626			2,507
Stock-based compensation expense		3,123			3,141			2,696			6,264			5,612
Restructuring		(81	)		13			18			(68	)		694
Acquisition related compensation		307			339			—			646			—
Litigation reserves		143			68			8			211			2,540
Tax effect		(1,554	)		(1,530	)		(1,218	)		(3,084	)		(3,410	)
Non-GAAP net income (loss)	$	13,728		$	17,059		$	(522	)	$	30,787		$	893
NET INCOME (LOSS) PER DILUTED SHARE:
	Three months ended									Six months ended
	June 27, 2010			March 28, 2010			June 28, 2009			June 27, 2010			June 28, 2009
GAAP net income (loss) per diluted share	$	0.29		$	0.38		$	(0.10	)	$	0.67		$	(0.21	)
Amortization of intangible assets		0.04			0.04			0.04			0.07			0.07
Stock-based compensation expense		0.09			0.09			0.08			0.17			0.16
Restructuring		(0.00	)		0.00			0.00			(0.00	)		0.02
Acquisition related compensation		0.01			0.01			—			0.02			—
Litigation reserves		0.00			0.00			0.00			0.01			0.07
Tax effect		(0.05	)		(0.04	)		(0.04	)		(0.08	)		(0.08	)
Non-GAAP net income (loss) per diluted share	$	0.38		$	0.48		$	(0.02	)	$	0.86		$	0.03

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NETGEAR, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In thousands, except per share data)

(Unaudited)

	Three months ended
	June 27, 2010		March 28, 2010		December 31, 2009		September 27, 2009		June 28, 2009
Cash, cash equivalents and short-term investments	$	231,030	$	240,947	$	247,100	$	234,540	$	224,496
Cash, cash equivalents and short-term investments per diluted share	$	6.43	$	6.75	$	7.01	$	6.71	$	6.53
Accounts receivable, net	$	138,730	$	150,140	$	162,853	$	123,529	$	110,231
Days sales outstanding (DSO)		64		62		71		66		69
Inventories	$	125,687	$	109,934	$	90,590	$	73,858	$	75,039
Ending inventory turns		4.0		5.0		6.7		6.2		5.5
Weeks of channel inventory:
U.S. retail channel		9.9		9.8		6.9		10.0		12.6
U.S. distribution channel		6.1		5.7		4.4		5.2		3.8
EMEA distribution channel		6.0		5.7		3.4		4.3		5.0
APAC distribution channel		4.9		4.5		3.8		5.0		4.8
Deferred revenue	$	17,405	$	15,917	$	22,106	$	11,355	$	15,267
Headcount		625		607		586		574		567
Non-GAAP Diluted shares		35,943		35,716		35,271		34,948		34,399

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