Juniper Networks Inc. (NYSE: JNPR) has decided to get ahead of earnings season with a dark cloud for enterprise technology around networking. The network equipment provider offered up weaker than expected preliminary financial results for its first quarter ending March 31, 2016.
Revenue was put at $1.09 billion to $1.1 billion, and its non-GAAP earnings per share range was put at $0.35 to $0.37 EPS. Both ranges were below prior guidance and they were both below the consensus estimates from analysts who follow the company.
Juniper’s prior guidance was $1.15 billion to $1.19 billion for revenues. Where things really look short is in the EPS range, which Juniper had previously guided to $0.42 to $0.46 EPS.
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Thomson/First Call had first quarter estimates at $0.45 EPS and $1.18 billion in revenues. Those would compare to $0.32 EPS and $1.07 billion in revenues for the first quarter of 2015.
Juniper said that the lower ranges for guidance were due (primarily) to lower than anticipated demand from its enterprise segment and from the timing of deployments of certain U.S. and EMEA Tier 1 telecom providers. That might bring up capital spending concerns beyond just Juniper.
After closing down 4-cents at $24.89 on Monday, the initial response sent Juniper shares down 8% to $22.80 in Monday’s after-hours reaction basis. Juniper’s 52-week range is $21.49 to $32.39 and the pre-news consensus analyst price target was $28.69.
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