SUNNYVALE, Calif. -- Juniper Networks, Inc. (NASDAQ:JNPR) today reported its revenue results for the quarter ended June 30, 2006.

Net revenues for the second quarter of 2006 were $567.5 million, compared with $493.0 million for the same quarter last year, an increase of 15 percent.

Net cash and investments increased over $200M during the second quarter of 2006 to $2.25 billion.

"We're pleased with the results for the quarter, the confidence our customers continue to place in Juniper and the strength of the business," commented Scott Kriens, chairman and CEO, Juniper Networks. "We see continued and expanding opportunity in the marketplace as we participate in the accelerating convergence on IP and benefit from the resulting demand for the unique capabilities of Juniper."

In a separate release

SUNNYVALE, Calif. -- Juniper Networks, Inc. (Nasdaq:JNPR) announced today that its board of directors approved a new stock repurchase program which enables the Company to purchase up to $1 billion of the company's common stock.

"Our commitment to our shareholders is to continue to grow revenue, earnings and cash and as a result enhance the long term value of Juniper," commented Scott Kriens, chairman and CEO, Juniper Networks. "Consistent with that commitment the Board of Directors has concluded that a significant stock repurchase program is appropriate."

Juniper Networks Inc. (NYSE: JNPR)