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Technology Stocks : Juniper Networks - JNPR -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (3242)	7/12/2002 9:11:02 AM
From: H James Morris	Respond to of 3350

07/12 07:57 Juniper Shares Rise as 2nd-Qtr Results Beat Forecasts (Update1) By Scott Lanman Sunnyvale, California, July 12 (Bloomberg) -- Juniper Networks Inc. shares rose 12 percent after the second-biggest maker of equipment to direct Internet traffic reported quarterly sales and per-share results that topped analysts' estimates. The stock climbed 88 cents to $8.10 in early trading, according to Instinet. Juniper shares, which traded as high as $244.50 in October 2000, had dropped 71 percent in the past year. Juniper ``did a better job at expense control'' than anticipated, said Credit Lyonnais Securities analyst Gabriel Lowy, who is keeping his ``hold'' rating on the stock and doesn't personally own the shares. Some analysts had reduced their second-quarter forecasts for Sunnyvale, California-based Juniper on concern about deeper spending cuts by WorldCom Inc. and other clients. Juniper said yesterday that it's cutting 200 jobs, or 10 percent of its staff, after buying rival Unisphere Networks Inc. last week for about $585 million to gain sales. Second-quarter net income was $6.23 million, or 2 cents a share, compared with a loss of $37.1 million, or 12 cents, a year earlier, Juniper said. Sales dropped 42 percent to $117 million. Excluding acquisition-related costs and a gain on deferred compensation, the company said profit would have been $421,000, or break-even on a per-share basis, compared with profit of 9 cents on revenue of $202.2 million in the year-earlier period. On that basis, analysts polled by Thomson First Call predicted a loss of 1 cent a share on sales of $109.6 million. Cisco Systems Inc. ranks ahead of Juniper in sales of data- traffic routers.