Earnings Review and Free Research Report: Juniper Reported Better than Expected Revenue

Research Desk Line-up: Gigamon Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Juniper Networks, Inc. (NYSE: JNPR) ("Juniper"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=JNPR, following the Company's posting of its third quarter fiscal 2017 financial results on October 24, 2017. The computer network equipment maker's earnings per share (EPS) grew 2% on a y-o-y basis and provided forecasts for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Networking & Communication Devices industry. Pro-TD has currently selected Gigamon Inc. (NYSE: GIMO) for due-diligence and potential coverage as the Company released on October 26, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Gigamon when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on JNPR; also brushing on GIMO. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended September 30, 2017, Juniper's net revenues were $1.26 billion, reflecting a decrease of 2% compared to $1.29 billion in Q3 2016. The Company's revenue numbers exceeded analysts' estimates of $1.25 billion.

For Q3 2017, Juniper reported a GAAP operating margin of 19.4% versus 19.5% in Q3 2016. The Company's non-GAAP operating margin was 23.5% for the reported quarter compared to 24.4% in the prior year's same quarter.

Juniper reported a GAAP net income of $174.4 million, or $0.46 per diluted share, compared to a net income of $172.4 million, or $0.45 per diluted share, for Q3 2016. The Company's non-GAAP net income was $211.1 million, or diluted earnings per share of $0.55, for the reported quarter versus a net income of $220.5 million, or $0.57 per share, in the prior year's comparable quarter. Juniper's earnings figures fell short of Wall Street's expectations of $0.56 per share.

Segment Results

During Q3 2017, Juniper's Routing segment's revenue totaled $585.8 million compared to $620.2 million in Q3 2016. The Company's Switching segment's revenue totaled $212.6 million in the reported quarter, down compared to $222.5 million in the year ago corresponding period, primarily due to the delay of certain large cloud customer deployments. Juniper's Security segment's revenue came in at $71.3 million in Q3 2017 versus $85.5 million for Q3 2016.

In the reported quarter, the Company's Product deferred revenue was $324 million, up $26 million, or 9% on a y-o-y basis.

Cash Matters

Juniper's total cash, cash equivalents, and investments as of September 30, 2017, were $4.20 billion compared to $3.48 billion as of September 30, 2016, and $4.22 billion as of June 30, 2017.

For Q3 2017, Juniper's net cash flows provided by operations were $202 million compared to $245 million in Q3 2016, and $299 million in Q2 2017. The Company's days sales outstanding (DSO) in accounts receivable was 52 days in the reported quarter compared to 53 days in the prior year's same quarter.

For Q3 2017, Juniper's capital expenditure totaled $33 million, while depreciation and amortization expenses were $56 million.

Juniper's Board of Directors declared a quarterly cash dividend of $0.10 per share to be paid on December 22, 2017, to shareholders of record as of the close of business on December 01, 2017. During Q3 2017, the Company repurchased $140 million of shares and paid $38 million in dividends. In 2017, the Company is committed to returning approximately 50% of annual free cash flow to its shareholders, inclusive of share repurchases and dividends, and expects to be opportunistic with its share repurchases.

Outlook

For the quarter ending December 31, 2017, Juniper is forecasting revenues to be approximately $1.23 billion, plus or minus $30 million. The Company expects non-GAAP gross margin to be approximately 62.0%, plus or minus 0.5%, and non-GAAP operating margin to be approximately 22.6% at the midpoint of revenue guidance.

Juniper is forecasting non-GAAP net income per share in the range of $0.49 to $0.55; assuming share count of approximately 380 million.

Stock Performance

At the close of trading session on Friday, November 03, 2017, Juniper Networks' stock price slightly rose 0.61% to end the day at $24.55. A total volume of 4.56 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 14.53 and have a dividend yield of 1.63%. At Friday's closing price, the stock's net capitalization stands at $9.28 billion.

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SOURCE: Pro-Trader Daily