Interesting to note that if one takes away interest income from the consolidated statement of operations, JNPR has been operating at a loss for the past two quarters.
Three months ended Six months ended
June 30, June 30,
------------------------- -------------------------
2000 1999 2000 1999
--------- --------- --------- ---------
Net revenues $113,028 $ 17,556 $176,914 $ 27,600
Cost of revenues 40,752 8,046 65,853 14,393
--------- --------- --------- ---------
Gross profit 72,276 9,510 111,061 13,207
Operating expenses:
Research and development 18,000 7,991 33,990 14,172
Sales and marketing 17,247 3,849 28,752 6,452
General and administrative 4,171 977 7,185 1,753
Amortization of goodwill, purchased
intangibles and deferred stock
compensation(1) 2,315 891 4,706 1,795
Charitable contribution 10,000 -- 10,000 --
--------- --------- --------- ---------
Total operating expenses 51,733 13,708 84,633 24,172
--------- --------- --------- ---------
Operating income/(loss) 20,543 (4,198) 26,428 (10,965)
Interest income 24,634 619 35,164 942
Interest expense (14,758) (171) (18,652) (382)
--------- --------- --------- ---------
Income/(loss) before income taxes 30,419 (3,750) 42,940 (10,405)
Provision for income taxes 10,802 102 15,252 122
--------- --------- --------- ---------
Net income/(loss) $ 19,617 $ (3,852) $ 27,688 $ (10,527)
========= ========= ========= =========
Net Income (loss) per share:
Basic $ 0.06 $ (0.04) $ 0.09 $ (0.11)
========= ========= ========= =========
Diluted $ 0.06 $ (0.04) $ 0.08 $ (0.11)
========= ========= ========= =========
Shares used in computing
net income (loss) per share:
Basic 301,879 107,292 298,712 98,616
========= ========= ========= =========
Diluted 346,411 107,292 346,102 98,616
========= ========= ========= =========
In other words it ain't making money selling its product. |
