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Juniper Beats 2Q Earnings Views, Outlook Relieves Some
By PETER LOFTUS and HOLLISTER HOVEY
Of DOW JONES NEWSWIRES
NEW YORK -- Juniper Networks Inc.'s (JNPR) second-quarter earnings beat analysts' reduced expectations, as the company said it continued to receive business from its largest customers.
The Sunnyvale, Calif., network equipment maker predicted full-year revenue slightly below Wall Street's expectations. But it backed the existing earnings forecast, and some analysts were relieved that Juniper didn't dramatically reduce its forecast in the face of continued deterioration in capital spending by telecommunications carriers.
Earlier Thursday, Juniper said its net loss for the second quarter, which includes goodwill, amortization and other items, was $37.1 million, or 12 cents a share, compared with net income of $19.6 million, or 6 cents a share, in the second quarter of 2000.
Excluding those items, Juniper posted pro forma earnings of 9 cents a share in the second quarter, one cent better that Wall Street's consensus estimate and its second-quarter pro forma earnings last year.
Revenue rose 79% to $202.2 million from $113.0 million last year, falling within the $200 million to $210 million range the company had expected, but short of Wall Street's $218.67 million consensus estimate.
Juniper executives said the company continued to generate business from its largest customers, including WorldCom Inc. (WCOM) and Global Crossing Ltd. (GX). |
