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Juniper Makes Its Q3 Numbers

Juniper Networks Inc. (NYSE: JNPR) reported earnings on Tuesday that met analysts' lowered expectations, but its fourth-quarter forecast shows there's still room to drop.

For its third quarter, which ended Sept. 30, Juniper reported revenues of $1.11 billion and net income of $83.7 million, or 16 cents per diluted share. For the same quarter in 2010, Juniper reported revenues of $1.01 billion and net income of $134.5 million, or 26 cents per share.

Juniper's non-GAAP earnings of 28 cents per share met analyst expectations, according to Thomson Reuters . But GAAP earnings per share missed by 3 cents, due partly to a $16.8 million charge related to layoffs.

In July, Juniper had braced investors for a difficult second half of the year. Estimates might not have been lowered enough, however. Juniper is predicting fourth-quarter revenues of $1.16 billion to $1.22 billion, whereas analysts were expecting $1.23 billion. Even so, Juniper shares were up 59 cents (2.8%) at $22 in early after-hours trading. (See Juniper Darkens 2011 Outlook.)

— Craig Matsumoto, West Coast Editor, Light Reading

Pete Baldwin 12/5/2012 | 4:51:01 PM
re: Juniper Makes Its Q3 Numbers

Summary of new product statuses (stati?) from the earnings call:


QFabric - Shipping.


T4000 - Shipping in Q4; first revenues likely in 3Q'12. Comcast has an order in, as expected; they were the customer quoted at the launch.


PTX - Shipping in Q1.

Pete Baldwin 12/5/2012 | 4:51:01 PM
re: Juniper Makes Its Q3 Numbers

4Q'10 revenues had been about $1.19B, so Juniper is essentially forecasting 0% year/year growth for 4Q'11.


They're calling it temporary and saying booking is still strong, but something about hitting that 0% number just doesn't look good. Analysts are grilling them on the earnings call now.

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