Another good report!
Juniper Networks, Inc. Reports Q1'00 Financial Results; Net Revenue $63.9M; Pro forma EPS $0.06
April 13, 2000 04:15 PM Eastern Time
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 13, 2000--Juniper Networks, Inc. JNPR , a leading provider of next-generation IP infrastructure systems, today reported its first quarter results for the period ending March 31, 2000.
Net revenues for the first quarter were $63.9 million, compared with $45.4 million for the fourth quarter, an increase of 41%. Pro forma net income, which excludes the amortization of goodwill of $1.9 million and the deferred compensation charge of $0.5 million, was $10.5 million or $0.06 per share, compared with a pro forma net income of $4.8 million or $0.03 per share in the fourth quarter of 1999.
Actual net income for the first quarter, including the above-mentioned amortization of goodwill and deferred compensation charge, was $8.1 million or $0.05 per share, compared with an income of $3.1 million or $0.02 per share in the fourth quarter of 1999.
In addition, the Board of Directors authorized a two-for-one stock split. Shares resulting from the split are expected to be distributed by the transfer agent on June 15, 2000.
"We continue to see growth in the IP infrastructure market," said Scott Kriens, Chairman and CEO of Juniper Networks. "During the quarter we diversified our customer base, broadened our geographic coverage and expanded the product portfolio. As these results demonstrate, we remain focused on the consistent execution necessary to build a long-term franchise," Kriens said.
Perry P.
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