Wednesday, April 23, 2008

Juniper Reports Q1 Revenue of $823 Million, up 31% YoY

Juniper Networks posted Q1 2008 revenue of $822.9 million, up 31% on a year-over-year basis, GAAP net income of $110.4 million or $0.20 per diluted share, and non-GAAP net income of $149.5 million or $0.27 per diluted share. The non-GAAP EPS figure represents an increase of 44% from the $0.19 per diluted share reported for the first quarter of 2007.

Juniper's operating margin rose to 17.3% on a GAAP basis from 9.6% in the same quarter a year-ago. Non-GAAP operating margin rose to 23.5% from 19.6% in the first quarter of 2007. The improvement reflected strength in gross profit margins owing to a favorable mix of infrastructure products, particularly in the Company's T and M series products, as well as reduced operating expense as a percentage of net revenues due to the Company's efforts to manage expenses and improve efficiency.

"The strength of our first quarter results continues to underscore the value of Juniper's commitment to high-performance networking," said Scott Kriens, chairman and chief executive officer, Juniper Networks, Inc. "Across our markets and around the world, we are seeing clear opportunity to extend our lead through an optimal combination of Juniper size, speed, focus and execution, which translates directly into strategic advantage for our customers."