SUNNYVALE, Calif. -- Juniper Networks, Inc. (NASDAQ:JNPR - News) today reported its results for the quarter ending June 30, 2004.

Net revenues for the second quarter were $306.9 million, compared with $165.1 million for the same period last year, an increase of 86 percent.

GAAP net loss for the second quarter was $12.6 million or $0.02 per share, compared with a GAAP net income of $13.6 million or $0.03 per share in the second quarter of 2003. Non-GAAP net income was $42.7 million or $0.08 per share, compared with non-GAAP net income of $10.3 million or $0.03 per share in the second quarter of 2003. See the table at the bottom of the Non-GAAP Condensed Consolidated Statements of Operations for a reconciliation of the non-GAAP net income to the GAAP net loss.

Cash provided by operations was $119.0 million for the second quarter, compared to cash provided by operations of $60.3 million for the same period last year. Capital expenditures and depreciation during the second quarter were $12.1 million and $10.1 million, respectively.

---In a separate release---

SUNNYVALE, Calif. -- Juniper Networks, Inc. (Nasdaq: JNPR) today announced it has been awarded the prestigious TL 9000 certification by the Quality of Excellence for Suppliers of Telecommunications (QuEST) Forum. Juniper Networks is distinguished in being the first and only North American IP routing vendor to achieve this honor in the TL 9000 R3.0,1.2.9 router category, a testament to the company's focus on excellence in meeting the needs of its customers. The Juniper Networks Quality Management System (J-QMS) has been certified for design, development, provision and servicing of its core and edge IP routing platforms.

'The TL 9000 implementation by Juniper Networks in its Quality Management System is the finest I have audited in an initial certification audit. Juniper Networks has successfully integrated TL 9000 in its business model. There were no non-conformances in the audit, which is astounding compared to initial audits of quality systems at other suppliers,' commented Richard King-Davies, lead auditor, TUV America.

Juniper Networks Inc.