Juniper Posts Q1 Returns
Net revenues for the first quarter were $332.1 million, compared with $63.9 million for the same period last year, an increase of 420%. Pro forma net income was $85.4 million or $0.25 per share, compared with pro forma net income of $10.5 million or $0.03 per share for the first quarter of 2000. Actual net income for the first quarter, which includes amortization of goodwill and other purchased intangibles of $12.3 million and amortization of deferred compensation of $24.3 million, was $58.6 million or $0.17 per share, compared with net income of $8.1 million or $0.02 per share in the first quarter of 2000.
"We are particularly pleased to report the continued growth and execution of Juniper Networks, especially given the challenges of today's economy," said Scott Kriens, Chairman and CEO of Juniper Networks. "These results reflect not only the strength of the company, our products, and our global customer base, but also our continued focus on the financial fundamentals."