Networking and Security Solutions Provider Juniper Networks 2Q Report Loss of 2 Cents a Share
Printer-friendly version Email this CRN article
SUNNYVALE, Calif. (AP) -- Networking and security solutions provider Juniper Networks Inc. on Tuesday said second-quarter GAAP loss was $12.6 million, or 2 cents a share, below earnings of $13.6 million, or 3 cents a share, last year.
Net revenues for the second quarter were $306.9 million, up 86 percent from $165.1 million a year ago.
Non-GAAP net income, was $42.7 million or 8 cents a share, compared with non-GAAP net income of $10.3 million or 3 cents a share, in the second quarter of 2003. Non-GAAP figures exclude in-process research and development, integration costs, restructuring costs, amortization of purchased intangibles and deferred stock compensation, a prior period acquisition related adjustment, gain on sale of investments and the gain or loss on redemption of the convertible subordinated notes.
A survey of analysts by Thomson First Call yielded a consensus earnings estimate of 4 cents a share for Juniper's second quarter.
Scott Kriens, chairman and chief executive, said the company's momentum and the confidence of its customers put it in a strong position entering the second half.
Separately, Juniper said its board authorized a stock repurchase program of up to $250 million.
The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.