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Juniper Networks, Inc. Message Board

  • bluecheese4u bluecheese4u Jul 24, 2012 7:30 PM Flag

    Juniper Networks Reports Preliminary Second Quarter 2012 Financial Results

    Juniper Networks Reports Preliminary Second Quarter 2012 Financial Results

    Jul 24, 2012 (Marketwire via COMTEX) -- Juniper Networks (NYSE: JNPR)
    Revenue: $1,074 million, up 4% from Q1'12 and down 4% from Q2'11
    Operating Margin: 8.1% GAAP; 15.0% non-GAAP
    GAAP Net Income Per Share: $0.11 diluted
    Non-GAAP Net Income Per Share: $0.19 diluted, up 19% from Q1'12 and down 39% from Q2'11


    Juniper Networks (NYSE: JNPR), the industry leader in network innovation, today reported preliminary financial results for the three and six months ended June 30, 2012, and provided its outlook for the three months ending September 30, 2012.

    Net revenues for the second quarter of 2012 increased 4% sequentially, and decreased 4% on a year-over-year basis, to $1,074 million.

    The Company posted GAAP net income of $58 million, or $0.11 per diluted share, and non-GAAP net income of $103 million, or $0.19 per diluted share, for the second quarter of 2012.

    Non-GAAP net income per diluted share increased 19% compared to the first quarter of 2012, and decreased 39% compared to the second quarter of 2011. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Share-Based Compensation Related Payroll Tax by Category table below.

    "Juniper's second quarter results delivered sequential top line growth as a result of our focus on execution," said Kevin Johnson, CEO of Juniper Networks. "New products continued to gain traction in the marketplace with key customer wins across our portfolio. In a challenging macro environment, we remain focused on our operational execution, delivering great products, driving revenue and managing our cost base."

    Juniper's operating margin for the second quarter of 2012 increased to 8.1% on a GAAP basis from 4.6% in the first quarter of 2012, and decreased from 15.3% in the second quarter of 2011. Non-GAAP operating margin for the second quarter of 2012 increased to 15.0% from 12.0% in the first quarter of 2012 and decreased from 21.6% in the second quarter of 2011.

    "In the second quarter Juniper delivered revenue, margins and earnings ahead of our guidance," said Robyn Denholm, CFO of Juniper Networks. "While customers remain cautious in their investment activity near-term, we are focused on executing our strategy to deliver revenue growth while driving disciplined cost management."

    Total cash, cash equivalents and investments as of June 30, 2012 were $4,272 million, compared to $4,216 million as of March 31, 2012 and $4,220 million as of June 30, 2011.

    Juniper generated net cash from operations for the second quarter of 2012 of $212 million, compared to net cash provided by operations of $102 million in the first quarter of 2012, and $318 million in the second quarter of 2011.

    Days sales outstanding in accounts receivable ("DSO") was 34 days in the second quarter of 2012, compared to 39 days in the first quarter of 2012 and 39 days in the second quarter of 2011.

    Juniper repurchased approximately 5 million shares in the second quarter of 2012, at an average price of $18.76 per share, or approximately $94 million.

    Capital expenditures, as well as depreciation and amortization of intangible assets expense during the second quarter of 2012, were $88 million and $46 million, respectively.

    While the long-term fundamentals driving demand for

    http://investor.juniper.net/phoenix.zhtml?c=69801&p=irol-newsArticle&ID=1717924&highlight=

 
JNPR
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