Juniper Networks, Inc. Revises Q1'02 Outlook
(Business Wire 03/27 13:16:42)
Business Editors/High-Tech Writers
SUNNYVALE, Calif.--(BUSINESS WIRE)--March 27, 2002--Juniper
Networks, Inc. (Nasdaq:JNPR), a leading provider of IP infrastructures
for the New Public Network, today revised its financial outlook for
the first quarter of fiscal 2002, which will end March 31, 2002.
Juniper Networks expects revenue for the first quarter to be
approximately $120-$125 million, down from the original guidance of
$150-155 million. Pro forma, fully-diluted earnings is expected to be
slightly above breakeven. The company's revised outlook reflects
continued cautious spending on the part of service providers and
carriers, as evidenced by widespread reductions in capital
expenditures in the telecommunications market.
Commenting on today's announcement, Scott Kriens, chairman and CEO
of Juniper Networks said, "Spending levels during the quarter were
below expectations, but represented a more diverse set of key service
providers and carriers. We remain committed to financial fundamentals,
our multiple market strategy, and to the expansion of our product
portfolio, all of which will be critical growth drivers when the
public networking industry outlook improves."
Juniper Networks recently announced major enhancements to its edge
portfolio -- including revenue-generating IP services such as security
and virtual private network capabilities highlighting the company's
new product cycle. The company's collaboration with Ericsson
progressed to offer a complete mobile edge and core solution garnering
new customers including Wind telecom in Italy and Inmarsat in the
United Kingdom. Additional customer wins in core, edge, cable and
mobile markets include Deutsche Telekom, NC Numericable, Cable &
Wireless, China Mobile, Electric Lightwave, and Callahan Group's Ish.
Conference Call Information
Juniper Networks will discuss its revised outlook today, March 27,
via a conference call Webcast at www.juniper.net/conferencecall/. The
call will begin at 1:45 p.m. Pacific Time. The dial-in number for the
conference call is 888/489-9504, or 212/676-5090.
An audio replay will be available at
www.juniper.net/conferencecall/. The replay dial-in number is
800/633-8284 or 858/812-6440, and the reservation number is 20474300.
It will be available 24 hours/day through April 3, 2002.
About Juniper Networks, Inc.
Juniper Networks leads the industry in turning network innovation
into the profitable delivery of edge, core, mobile, and cable Internet
services at scale for the New Public Network. Headquartered in
Sunnyvale, California, Juniper Networks offers additional information
on its product and service offerings at www.juniper.net.
Note to Editors: Juniper Networks is registered in the U.S. Patent
and Trademark Office and in other countries as a trademark of Juniper
Networks, Inc. G10, Internet Processor, Internet Processor II, JUNOS,
JUNOScript, M5, M10, M20, M40, M40e and M160 are trademarks of Juniper
Networks, Inc. All other trademarks, service marks, registered
trademarks, or registered service marks are the property of their
respective owners.
--30--pw/sf*
CONTACT: Juniper Networks, Inc.
Shirley Stacy, 408/745-2371 (Investor Relations)
sstacy@juniper.net
Kathy Durr, 408/656-3073 (Public Relations)
or 408/745-5058
kdurr@juniper.net
KEYWORD: afxal CALIFORNIA TRACK
INDUSTRY KEYWORD: INTERNET NETWORKING HARDWARE SOFTWARE
TELECOMMUNICATIONS CONFERENCE CALLS EARNINGS
SOURCE: Juniper Networks, Inc.
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