Juniper Networks, Inc. Reports Q1'02 Financial Results Net Revenue $122.2M
Pro forma EPS $0.00
SUNNYVALE, Calif.--(BUSINESS WIRE)--April 11, 2002--Juniper Networks, Inc. (Nasdaq:JNPR - news), a leading provider of trusted IP infrastructures for the New Public Network, today reported its first quarter results for the period ending March 31, 2002.
Net revenues for the first quarter were $122.2 million, compared with $332.1 million for the same period last year, a decrease of 63%. Pro forma net income was $423,000 or $0.00 per share, compared with pro forma net income of $85.4 million or $0.25 per share for the first quarter of 2001.
Actual net loss for the first quarter, which includes amortization of deferred compensation of $13.6 million, amortization of purchased intangibles of $1.6 million and write-downs in equity investments totaling $30.6 million, was $46.0 million or ($0.14) per share, compared with net income of $58.6 million or $0.17 per share in the first quarter of 2001.
``The critical objective for Juniper Networks is to position ourselves for the industry recovery,'' said Scott Kriens, Chairman and CEO of Juniper Networks. ``The company benefits from increased customer reception, and remains financially healthy while committed to investment and innovation across multiple markets, which will drive our growth as the industry outlook improves.''
About Juniper Networks
Juniper Networks leads the industry in turning network innovation into the reliable 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. Broadband Cable Processor, 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.
Actual results could differ materially from those anticipated in forward-looking statements in this release as a result of certain factors, including those set forth in the risk factors described in the Company's SEC filings, including its recent Form 10K....................
biz.yahoo.com |
