- Q4'02 Net Revenue $155.3M; Pro forma EPS $0.01
- 2002 Net Revenue $546.5M; Pro forma EPS $(0.01)
Sunnyvale, CA - January 16, 2003 - Juniper Networks, Inc. (NASDAQ: JNPR) today reported its fourth quarter results for the period ending December 31, 2002.
Net revenues for the fourth quarter were $155.3 million, compared with $151.0 million for the same period last year, an increase of 3%. Pro forma net income was $2.7 million or $0.01 per share, compared with pro forma net income of $15.9 million or $0.05 per share in the fourth quarter of 2001.
Actual net income for the fourth quarter, which includes amortization of purchased intangibles, a deferred compensation credit and a change in an estimated restructuring charge, was $8.5 million or $0.02 per share, compared with a net loss of $5.1 million or $0.02 per share in the fourth quarter of 2001.
Net revenues for the year ended December 31, 2002 were $546.5 million, compared with $887.0 million for the year ended December 31, 2001. Pro forma net loss for 2002 was $4.8 million or $0.01 per share, compared with pro forma net income of $169.9 million or $0.50 per share during 2001. Actual net loss for 2002 was $119.6 million or $0.34 per share, compared with $13.4 million or $0.04 per share during 2001.
'We are entering 2003 with a position of improved confidence, which is a designed result of our focus and execution over the last year,' said Scott Kriens, Chairman and CEO of Juniper Networks. 'As the industry transformation to IP continues the market is moving towards exactly the solutions that Juniper was built to deliver.'
About Juniper Networks
Juniper Networks transforms the business of networking by converting a commodity - bandwidth - into a dependable, secure, and highly valuable corporate asset. Founded in 1996 to meet the stringent demands of service providers, Juniper Networks is now relied upon by the world's leading network operators, government agencies, research and education institutions, and information intensive enterprises as the foundation for uncompromising networks. Juniper Networks is headquartered in Sunnyvale, California. Additional information can be found at http://www.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. Broadband Cable Processor, ERX, ESP, G1, G10, G-series, Internet Processor, JUNOS, JUNOScript, M5, M10, M20, M40, M40e, M160, M-series, NMC-RX, SDX, ServiceGuard, T320, T640, T-series, UMC, and Unison 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 most recent Form 10K.
http://www.juniper.net/news/pressreleases/2003/pr-030116.html
For more information:
Juniper Networks
Niek van Bemmel
Phone: 06 1272 3713
E-mail: niek@juniper.net
Lammers van Toorenburg PR
Annemiek Driessen / Evelien van Dongen
Phone: 030 656 50 70
E-mail: juniper@lvtpr.nl