diff --git a/drivers/net/usb/pegasus.c b/drivers/net/usb/pegasus.c
index e92cb51a2c77..060a8a03e6c4 100644
--- a/drivers/net/usb/pegasus.c
+++ b/drivers/net/usb/pegasus.c
@@ -360,28 +360,47 @@ fail:
 }
 #endif				/* PEGASUS_WRITE_EEPROM */
 
-static inline void get_node_id(pegasus_t *pegasus, __u8 *id)
+static inline int get_node_id(pegasus_t *pegasus, u8 *id)
 {
-	int i;
-	__u16 w16;
+	int i, ret;
+	u16 w16;
 
 	for (i = 0; i < 3; i++) {
-		read_eprom_word(pegasus, i, &w16);
+		ret = read_eprom_word(pegasus, i, &w16);
+		if (ret < 0)
+			return ret;
 		((__le16 *) id)[i] = cpu_to_le16(w16);
 	}
+
+	return 0;
 }
 
 static void set_ethernet_addr(pegasus_t *pegasus)
 {
-	__u8 node_id[6];
+	int ret;
+	u8 node_id[6];
 
 	if (pegasus->features & PEGASUS_II) {
-		get_registers(pegasus, 0x10, sizeof(node_id), node_id);
+		ret = get_registers(pegasus, 0x10, sizeof(node_id), node_id);
+		if (ret < 0)
+			goto err;
 	} else {
-		get_node_id(pegasus, node_id);
-		set_registers(pegasus, EthID, sizeof(node_id), node_id);
+		ret = get_node_id(pegasus, node_id);
+		if (ret < 0)
+			goto err;
+		ret = set_registers(pegasus, EthID, sizeof(node_id), node_id);
+		if (ret < 0)
+			goto err;
 	}
+
 	memcpy(pegasus->net->dev_addr, node_id, sizeof(node_id));
+
+	return;
+err:
+	eth_hw_addr_random(pegasus->net);
+	dev_info(&pegasus->intf->dev, "software assigned MAC address.\n");
+
+	return;
 }
 
 static inline int reset_mac(pegasus_t *pegasus)