Monday, July 25, 2011

Juniper Posts Q2 revenue of $1.1 B, up 15% YoY and up 2% from Q1

Juniper Networks reported Q2 revenue of $1,120.5 million, up 15% from Q2'10 and up 2% from the preceding quarter. GAAP net income was $115.6 million, or $0.21 per diluted share, and non-GAAP net income of $167.2 million, or $0.31 per diluted share, for the second quarter of 2011.

Juniper's operating margin for the second quarter of 2011 decreased to 15.3% on a GAAP basis from 16.1% in the first quarter of 2011, and from 18.9% in the prior year second quarter.

"Juniper's results reflect momentum in our routing business and a return to solid performance in switching. A number of factors, however, including mixed signals in the macro economy, impacted our performance this quarter," said Kevin Johnson, chief executive officer at Juniper Networks. "We are confident that our investment in innovation is generating a wave of great products that positions us well to deliver on our multi-year growth agenda."

Looking ahead, Juniper said its outlook for the September quarter "reflects some near-term market weakness due primarily to the timing of certain Service Provider deployments. Our overall pipeline is strong and we anticipate many of our recent design wins will begin translating to revenue late in 2011."

Juniper estimates revenue for the third quarter ending September 30, 2011, to be in the range of $1.070 billion to $1.120 billion.