Juniper Networks reported preliminary net revenues for the second quarter of 2014 of $1,230 million, up 7% year-over-year and 5% sequentially. Juniper posted GAAP net income of $221.1 million, or $0.46 per diluted share for the second quarter of 2014.
“Juniper delivered another solid quarter of revenue growth, with continued diversification across our target verticals. With our focused strategy, we are seeing clear signs of success with customers who are in a build cycle for High-IQ networks and Cloud ecosystems,” said Shaygan Kheradpir, chief executive officer, Juniper Networks. “We are relentlessly executing on our Integrated Operating Plan and successfully implemented several initiatives to drive greater efficiencies across our organization. Throughout, we have been working to ignite our culture of innovation and maintain our unwavering commitment to shareholders to drive significant value through profitable growth.”
Juniper Networks also announced the initiation of a quarterly cash dividend of $0.10 per share of common stock.
Looking ahead, Juniper said are some near term, customer-specific dynamics that it is factoring into its outlook. This is partially offset by signs of strength in emerging verticals. The company posted the following estimates for the quarter ending September 30, 2014:
- Revenues will be in the range of $1,150 million to $1,200 million.
- Non-GAAP gross margin will be approximately 64.0%, plus or minus 0.5%.
- Non-GAAP operating expenses will be $505 million, plus or minus $5 million.