Juniper Escapes 2001

SUNNYVALE, Calif. -- Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of next-generation IP infrastructure systems, today reported its fourth quarter results for the period ending December 31, 2001. Net revenues for the fourth quarter were $151.0 million, compared with $201.7 million for the third quarter, a decrease of 25%. Pro forma net income was $15.9 million or $0.05 per share, compared with pro forma net income of $32.5 million or $0.10 per share in the third quarter of 2001. Actual net loss for the fourth quarter, which includes amortization of goodwill and other purchased intangibles of $12.5 million, amortization of deferred compensation of $15.2 million and in-process research and development of $4.2 million, was $5.1 million or $0.02 per share, compared with a net loss of $29.7 million or $0.09 per share in the third quarter of 2001. Net revenues for the year ended December 31, 2001 were $887.0 million, compared with $673.5 million for the year ended December 31, 2000. Pro forma net income for 2001 was $169.9 million or $0.50 per share, compared with $184.0 million or $0.53 per share during 2000. Actual net loss for 2001 was $13.4 million or $0.04 per share, compared with actual net income of $147.9 million or $0.43 per share during 2000. "With all its challenges, 2001 was also a year of significant accomplishments," said Scott Kriens, Chairman and CEO of Juniper Networks. "We more than doubled our customer base, we expanded our product capabilities globally in multiple markets, and increased our revenues by more than 30% over the prior year."Juniper Networks Inc.