Juniper Networks, Inc. Reports Q2'99 Financial Results;
Net Revenue $17.6M; Pro Forma Net Loss Per Share -$0.09
Business Wire - July 20, 1999 16:31
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 20, 1999--Juniper Networks, Inc.
(Nasdaq:JNPR), a provider of next-generation Internet infrastructure systems, today reported its
second quarter results for the period ending June 30, 1999.
Net revenues for the second quarter were $17.6 million, compared with $10.0 million for the first
quarter, an increase of 75%. Net loss for the second quarter of 1999 was $3.9 million or $(0.22) per
share, compared with a loss of $6.7 million or $(0.45) per share in the first quarter of 1999. Pro forma
basic and diluted net loss per share (including the effect of the conversion of convertible preferred stock
in all periods), would have been $(0.09) per share, compared with $(0.17) per share for the first
quarter of 1999.
Net revenues for the first six months of 1999 were $27.6 million. Net loss for the first six months of
1999 was $10.5 million or $(0.64) per share, compared with $11.1 million or $(0.98) per share during
the same six month period in 1998. Pro forma basic and diluted net loss per share would have been
$(0.26) per share for the six months ended June 30, 1999, compared with $(0.31) per share for the
same six month period in 1998.
"The market acceptance from some of the world's largest Internet Service Providers during this quarter,
including Cable and Wireless and UUNET, as well as our increased international business, indicates
broad demand for the M40 Internet backbone router and JUNOS operating system," said Scott
Kriens, Chairman and CEO of Juniper Networks, Inc. "We are pleased to see the industry for new
Internet infrastructure continue to emerge and define the market need for purpose-built systems and
software".
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