Juniper Networks Reports Higher Quarterly Profit, Revenue
April 28 2016 - 9:30PM
Dow Jones News
Juniper Networks Inc.'s revenue and profit rose in the first
three months of the year on steady underlying demand, helping the
company meet its lowered projections.
For the current quarter, Juniper projects revenue of $1.16
billion to $1.22 billion, compared with analysts' projected $1.21
billion in revenue, according to Thomson Reuters.
Shares, down 13% over the past 12 months, edged up 0.4% to
$23.50 in after-hours trading.
Juniper, a rival to Cisco Systems Inc., makes routing and
switching systems and other equipment used by telecommunications
companies and other big network operators.
Over all, Juniper reported a profit of $91.4 million, or 23
cents a share, compared with $80.2 million, or 19 cents a share, a
year earlier. Excluding stock-based compensation and other items,
profit was 37 cents a share, compared with 32 cents a year
earlier.
The most recent results are based on 6% fewer shares
outstanding.
Revenue rose 3% to $1.1 billion.
The Sunnyvale, Calif., company earlier this month lowered its
guidance by projecting 35 cents to 37 cents a share in adjusted
profit on $1.09 billion to $1.10 billion in revenue. In January,
when it released fourth-quarter results, it had projected 42 cents
to 46 cents per share on $1.15 billion to $1.19 billion in
revenue.
Gross margin improved to 62.9% from 61.6% a year earlier.
Revenue in its security product unit, which the company has been
trying to stabilize, fell 21% to $73.4 million.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 28, 2016 21:15 ET (01:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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