Juniper Hires Ex-Nortel Exec as CMO
Flaherty was previously the CMO at Nortel, but was axed in November 2008 as part of the Canadian firm's cost reduction program. She joined Nortel in May 2006. (See Nortel Culls 1,300 Jobs, Loses $3.4B and Nortel Names CMO.)
The CMO role is one that Juniper has struggled with in recent years. Flaherty replaces Penny Wilson, who was appointed to the post only 15 months ago, in October 2007. (See Juniper Names CMO.)
Wilson, in turn, took on a role that had been split three ways in April 2006. (See Juniper Fills Marketing Void (3 Times).)
Flaherty, meanwhile, has landed on her feet, having departed from Nortel only a short while before the Canadian giant filed for bankruptcy protection. (See Nortel Files for Bankruptcy Protection and The Decline & Fall of Nortel Networks.)
Juniper to announce Q4
The financial situation at Juniper will be relatively soothing: It reported a better than expected third quarter last October, and provided a fourth-quarter revenues range that, at $921 million to $971 million, was mostly below analysts' expectations, but not disastrous. (See Juniper Spreads Sunshine in Q3.)
That was a few months back, though, and a lot has changed since then. (See AT&T Cuts Capex by up to $3B.)
Juniper reports its fourth-quarter earnings later today, with Barclays Capital analyst Jeff Kvaal expecting the vendor to post revenues of $919 million. In addition, Kvaal now expects Juniper's 2009 revenues to hit $3.5 billion, flat compared with 2008. Previously he had expected a 3 percent rise for this year.
On average, analysts are expecting Juniper's fourth-quarter revenues to be $936.2 million, and for 2009 revenues to total $3.7 billion.
Kvaal regards Juniper as a survivor. In a research note issued this week, the Barclays Capital analyst noted: "Overall, we view Juniper as likely to emerge from this period of difficult economic conditions with a healthy revenue growth rate, margin structure, and balance sheet. Juniper’s revamped product portfolio (T1600 core router, MX-series, and EX switch) should help drive a healthy revenue growth trajectory when macro conditions stabilize, in our view."
Juniper's share price closed Wednesday at $18.34.
— Ray Le Maistre, International News Editor, Light Reading