SUNNYVALE, Calif. (AP) _ Juniper Networks Inc. (JNPR) on Tuesday reported first-quarter net income of $20.4 million.
The Sunnyvale, California-based company said it had net income of 6 cents per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The computer network equipment maker posted revenue of $998 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.01 billion.
For the current quarter ending in July, Juniper expects its per-share earnings to range from 29 cents to 39 cents.
The company said it expects revenue in the range of $1.01 billion to $1.11 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.03 billion.
Juniper shares have fallen roughly 3% since the beginning of the year, while the Standard & Poor's 500 index has declined 11%. In the final minutes of trading on Tuesday, shares hit $23.92, a decline of 15% in the last 12 months.