7/13..JNPR Q2 outpaces Wall Street forecasts
SUNNYVALE, Calif., July 13 (Reuters) - Juniper Networks, Inc. (NasdaqNM:JNPR - news), which makes high-speed routers used in computer networks, on Thursday reported second-quarter earnings that handily beat Wall Street expectations.
Shares of the Sunnyvale, Calif.-based company, which jumped 17-9/16 on the Nasdaq in regular trade to close at 169-1/2, after hitting a record high of 177, before the earnings announcement. The shares rose 3-3/4 to 173-1/4 in after-hours trade on the Instinet electronic broker system.
Juniper Networks said its second-quarter pro forma net income, excluding charges and goodwill amortization, was $28.6 million, or 8 cents per share. Financial analysts had predicted earnings of 4 cents per share, according to First Call/Thomson Financial.
Including amortization of $1.9 million in goodwill, and $10.5 million in charges for deferred compensation and charitable contributions, the company reported net income of $19.6 million, or 6 cents per share. A year ago, the company reported net income of $8.1 million or 2 cents per share.
Net revenues rose to $113 million from $17.56 million a year ago.
``Our results this quarter are representative of the opportunity we see to build the global IP infrastructure,'' Juniper Chief Executive Scott Kriens said in the earnings statement. He referred to the company's networks and participation in the rapid expansion of the Internet and super- fast access to the Web. |
