.
- Q3 Revenue: $823.9 million, up 5% quarter over quarter
- Q3 Operating Margin: 15.5% GAAP; 20.8% non-GAAP
- Q3 GAAP Net Income Per Share: $0.16 diluted
- Q3 Non-GAAP Net Income Per Share: $0.23 diluted, up 21% quarter over
quarter
Juniper Networks, Inc. (NASDAQ: JNPR) today reported preliminary financial results for the three months ended September 30, 2009.
Net revenues for the third quarter of 2009 increased 5% to $823.9 million from $786.4 million reported in the second quarter of 2009 and declined 13% on a year-over-year basis. The Company posted GAAP net income of $83.8 million, or $0.16 per diluted share, and non-GAAP net income of $122.5 million, or $0.23 per diluted share for the third quarter of 2009. Non-GAAP net income per share represents an increase of 21% quarter-over-quarter from the $0.19 per diluted share reported for the second quarter of 2009 and a decrease of 28% from the $0.32 per diluted share reported for the third quarter of 2008. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Net Revenues by Reportable Segment table below.
"Juniper is driving execution and gaining momentum at a time when visibility in key areas of our business is beginning to improve," said Kevin Johnson, Juniper's Chief Executive Officer. "We are delivering on our R&D roadmap and customers are embracing our offer of integrated routing, switching and security on a common software platform - JUNOS. Even as our optimism grows, macroeconomic conditions remain uncertain and we will continue to balance sound financial management with our investments in innovation and customer satisfaction."
Juniper's operating margin for the third quarter of 2009 increased to 15.5% on a GAAP basis from 12.2% in the second quarter of 2009, and decreased from 21.3% in the prior year third quarter. Non-GAAP operating margin for the third quarter of 2009 increased to 20.8% from 18.1% in the second quarter of 2009 and decreased from 25.1% in the prior year third quarter.
Juniper generated net cash from operations for the third quarter of 2009 of $223.9 million, compared to net cash from operations of $148.7 million in the second quarter of 2009.
Capital expenditures as well as depreciation and amortization expense during the third quarter of 2009 were $33.8 million and $36.5 million, respectively.
"Juniper delivered solid results that featured sequential growth in our service provider and enterprise markets, as well as improved operating margins and good cash from operations," said Robyn Denholm, Juniper's Chief Financial Officer. "On a year-to-date basis, we reduced non-GAAP operating expenses by 4 percent compared to the same period in 2008, while continuing to deliver on our product roadmap, illustrating that our teams are executing well on our core strategy and operating principles."
Juniper Networks will host a conference call web cast today, October 22, 2009 at 1:45 p.m. (Pacific Time), to be broadcasted live over the Internet at: http://www.juniper.net/....
- Q3 Revenue: $823.9 million, up 5% quarter over quarter
- Q3 Operating Margin: 15.5% GAAP; 20.8% non-GAAP
- Q3 GAAP Net Income Per Share: $0.16 diluted
- Q3 Non-GAAP Net Income Per Share: $0.23 diluted, up 21% quarter over
quarter
Juniper Networks, Inc. (NASDAQ: JNPR) today reported preliminary financial results for the three months ended September 30, 2009.
Net revenues for the third quarter of 2009 increased 5% to $823.9 million from $786.4 million reported in the second quarter of 2009 and declined 13% on a year-over-year basis. The Company posted GAAP net income of $83.8 million, or $0.16 per diluted share, and non-GAAP net income of $122.5 million, or $0.23 per diluted share for the third quarter of 2009. Non-GAAP net income per share represents an increase of 21% quarter-over-quarter from the $0.19 per diluted share reported for the second quarter of 2009 and a decrease of 28% from the $0.32 per diluted share reported for the third quarter of 2008. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Net Revenues by Reportable Segment table below.
"Juniper is driving execution and gaining momentum at a time when visibility in key areas of our business is beginning to improve," said Kevin Johnson, Juniper's Chief Executive Officer. "We are delivering on our R&D roadmap and customers are embracing our offer of integrated routing, switching and security on a common software platform - JUNOS. Even as our optimism grows, macroeconomic conditions remain uncertain and we will continue to balance sound financial management with our investments in innovation and customer satisfaction."
Juniper's operating margin for the third quarter of 2009 increased to 15.5% on a GAAP basis from 12.2% in the second quarter of 2009, and decreased from 21.3% in the prior year third quarter. Non-GAAP operating margin for the third quarter of 2009 increased to 20.8% from 18.1% in the second quarter of 2009 and decreased from 25.1% in the prior year third quarter.
Juniper generated net cash from operations for the third quarter of 2009 of $223.9 million, compared to net cash from operations of $148.7 million in the second quarter of 2009.
Capital expenditures as well as depreciation and amortization expense during the third quarter of 2009 were $33.8 million and $36.5 million, respectively.
"Juniper delivered solid results that featured sequential growth in our service provider and enterprise markets, as well as improved operating margins and good cash from operations," said Robyn Denholm, Juniper's Chief Financial Officer. "On a year-to-date basis, we reduced non-GAAP operating expenses by 4 percent compared to the same period in 2008, while continuing to deliver on our product roadmap, illustrating that our teams are executing well on our core strategy and operating principles."
Juniper Networks will host a conference call web cast today, October 22, 2009 at 1:45 p.m. (Pacific Time), to be broadcasted live over the Internet at: http://www.juniper.net/....
