Juniper Networks (NASDAQ: JNPR) reported Tuesday that its second-quarter profit declined to $115.6 million, or 21 cents a share, from $130.5 million, or 24 cents a share, in the year-ago quarter. On an adjusted basis, the company earned 31 cents a share in the latest quarter.Revenue rose to $1.12 billion from $978.3 million. Analysts, on average, had expected the company to report earnings of 34 cents a share on revenue of $1.15 billion.
"Juniper's results reflect momentum in our routing business and a return to solid performance in switching. A number of factors, however, including mixed signals in the macro economy, impacted our performance this quarter," said Kevin Johnson, chief executive officer at Juniper Networks. "We are confident that our investment in innovation is generating a wave of great products that positions us well to deliver on our multi-year growth agenda."
Looking ahead, Juniper expects revenue for the third quarter ending September 30, 2011, to be in the range of $1.070 billion to $1.120 billion. Juniper anticipates that its non-GAAP net income per share will range between 26 cents and 30 cents per share on a diluted basis, assuming a flat share count and estimated non-GAAP tax rate of 27%. The non-GAAP EPS estimate includes a dilutive impact of approximately $0.02 per share due to net interest expense from our debt. Juniper estimates that its non-GAAP gross margin will be in the range of between 65% and 67% in the third quarter.
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"Juniper's results reflect momentum in our routing business and a return to solid performance in switching. A number of factors, however, including mixed signals in the macro economy, impacted our performance this quarter," said Kevin Johnson, chief executive officer at Juniper Networks. "We are confident that our investment in innovation is generating a wave of great products that positions us well to deliver on our multi-year growth agenda."
Looking ahead, Juniper expects revenue for the third quarter ending September 30, 2011, to be in the range of $1.070 billion to $1.120 billion. Juniper anticipates that its non-GAAP net income per share will range between 26 cents and 30 cents per share on a diluted basis, assuming a flat share count and estimated non-GAAP tax rate of 27%. The non-GAAP EPS estimate includes a dilutive impact of approximately $0.02 per share due to net interest expense from our debt. Juniper estimates that its non-GAAP gross margin will be in the range of between 65% and 67% in the third quarter.
Full Disclosure: None.
