Juniper Networks, Inc. Reports Q4 '01 and Year End 2001 Financial Results Q4 '01 Net Revenue $151.0M; Pro forma EPS $0.05 2001 Net Revenue $887.0M; Pro forma EPS $0.50
Sunnyvale, CA - January 15, 2002 - Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of next-generation IP infrastructure systems, today reported its fourth quarter results for the period ending December 31, 2001.
Net revenues for the fourth quarter were $151.0 million, compared with $201.7 million for the third quarter, a decrease of 25%. Pro forma net income was $15.9 million or $0.05 per share, compared with pro forma net income of $32.5 million or $0.10 per share in the third quarter of 2001.
Actual net loss for the fourth quarter, which includes amortization of goodwill and other purchased intangibles of $12.5 million, amortization of deferred compensation of $15.2 million and in-process research and development of $4.2 million, was $5.1 million or $0.02 per share, compared with a net loss of $29.7 million or $0.09 per share in the third quarter of 2001.
Net revenues for the year ended December 31, 2001 were $887.0 million, compared with $673.5 million for the year ended December 31, 2000. Pro forma net income for 2001 was $169.9 million or $0.50 per share, compared with $184.0 million or $0.53 per share during 2000. Actual net loss for 2001 was $13.4 million or $0.04 per share, compared with actual net income of $147.9 million or $0.43 per share during 2000.
"With all its challenges, 2001 was also a year of significant accomplishments," said Scott Kriens, Chairman and CEO of Juniper Networks. "We more than doubled our customer base, we expanded our product capabilities globally in multiple markets, and increased our revenues by more than 30% over the prior year."
About Juniper Networks
Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing teams, and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California. For more information, please visit the Web site at juniper.net.
Juniper Networks is registered in the U.S. Patent and Trademark Office and in other countries as a trademark of Juniper Networks, Inc. G10, Internet Processor, Internet Processor II, JUNOS, JUNOScript, M5, M10, M20, M40, 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 10Q.
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