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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (39897)	7/14/2003 6:07:10 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 71989

Take aways for JNPR Earnings CC N Amer rose 16 per q-q. Finally seeing stablization. Across all types of customers IXC's, ILECs's etc... Demand most for high margin/high priced core products. Note that sales are lumpy. Next q could be access/edge products as they feed off each other and the edge is become higher speed. VZ and BLS (RBOC) contracts announced in q. Asia fell 9 per q-q. Given size of Asia market, decrease is small given cost of products ($5 mil decrease for $0.5 mil ASP unit cost). Good cost control due to outsourcing. GM 62.2 percent. Generated 60 mil in cash in Q. Getting good traction and synergy with LU relationship. Helping them to win deals. Still only 2 high speed core and edge router companies of note. Did not say but would expect it to be CSCO and JNPR. BTB > 1 Tax 32 perc Cash 1.5 bil Did a convertible offering on q. Interest from cash will offset decrease in interest rates somewhat. DSO 41 days. No sustainable due to Intl sales. Guidance: Flat to this Q. Good given seasonality. Rev 165 mil. 3 cent EPS 410 mil shares out Near term visibility improving. Will seasonality in Europe. CORE/Access sales balanced at 50/50 2 channel partners: ERCIY and Siemens. 1/3 of rev. GT 10 per of rev. Amer 42 perc of rev Europe 28 perc Asia 30 perc