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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63038)	4/21/2002 11:09:45 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Juniper Networks May Have to Target Corporations, Investors Say By Scott Lanman quote.bloomberg.com Sunnyvale, California, April 20 (Bloomberg) -- Juniper Networks Inc. Chief Executive Scott Kriens is sticking with plans to sell equipment to telephone and Internet customers as investors say it's time to take on Cisco Systems Inc. and win business from large corporations. Kriens says the No. 2 maker of equipment to direct Internet traffic won't compete with customers such as WorldCom Inc. that resell Juniper's products to large corporations. Investors say Kriens's strategy has stalled. ``Telecom spending is coming down in a big way,'' said Tom Coler, technology analyst at Citizens Advisers Inc., which manages $1.2 billion and owned 50,220 Juniper shares on Dec. 31. ``Over time it would definitely serve Juniper well to expand their product base'' to include more gear for corporate and wireless networks, he said. Kriens's decision to stay with telecommunications carriers cost Juniper in the past year. Revenue has slid for four straight quarters, to $122.2 million in the latest period from a peak of $332.1 million. While his customers cut spending last year and will do so again in 2002, corporations are buying more networking gear, helping larger rival Cisco. Cisco Juniper shares fell 18 cents to $12.04 on Friday. They've dropped 82 percent in the past year. The company's market value has plunged to $4 billion from $72.1 billion in October 2000. The Sunnyvale, California-based company's 4 3/4 percent coupon convertible notes maturing in 2007 fell to 72.65 cents on the dollar on Thursday from 72.69 cents on Wednesday, pushing the yield up to 12.36 percent from 12.34 percent.