Investing
Juniper Networks, Impressive Growth Under the Circumstances (JNPR)
Published:
Last Updated:
Juniper Networks, Inc. (NASDAQ: JNPR) has posted earnings and shares are rising in after-hours trading. The networking equipment operator said that net revenue for the third quarter rose 29% to $947.0 million, with GAAP net income of $148.5 million, or $0.27 per sgare. It also reported a 45% gain to non-GAAP net income of $175.6 million, or $0.32. First Call had non-GAAP estimates of $0.30 EPS and $927.4 million in revenues.
The company also generated $204.6 million in net cash from operations andits operating margins grew to 21.3% on a GAAP basis from 15.3% this quarterlast year. Non-GAAP operating margins also grew to 25.1% from 21.1%over the same quarter last year.
There is some optimism out of CEO Kevin Johnson, although not as muchas some "Panglossians" may have hoped: "The long-term growth potentialof the high-performance networking market is strong and, even in thisuncertain economic climate, we are cautiously optimistic about ournear-term opportunities.”
Unfortunately, no formal guidance was initially given.Without the guidance, this should be considered unfinished business orincomplete data. This was very impressive growth when you consider what has been going on with the company. But the guidance will be key. First Call currently has estimates for current quarter at $0.32 non-GAAP EPS and $967.17 million for revenue.
Shares closed down 6% at $17.83 in regular trading today, and they haverecovered by over 2% to $18.25 in the after-hours session right afterthe numbers. Its 52-week trading range is $15.27 to $36.12.
Jon C. Ogg
October 23, 2008
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.