Sunnyvale, CA - April 10, 2003 - Juniper Networks, Inc. (NASDAQ: JNPR) today reported its first quarter results for the period ending March 31, 2003.
Net revenues for the first quarter were $157.2 million, compared with $122.2 million for the same period last year, an increase of 29%.
GAAP net income for the first quarter was $3.7 million or $0.01 per share, compared with a net loss of $46.0 million or $0.14 per share in the first quarter of 2002. Non-GAAP net income, which excludes amortization of purchased intangibles and deferred compensation and a gain on the sale of investments, was $6.3 million or $0.02 per share, compared with non-GAAP net income of $0.4 million or $0.00 per share in the first quarter of 2002.
Cash provided by operations was $12.4 million for the first quarter, compared to cash provided by operations of $12.0 million in the first quarter of 2002.
"The first quarter was solid," said Scott Kriens, Chairman and CEO of Juniper Networks. "We are in a unique position to help our customers transform their business of networking."
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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 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/company/presscenter/pr/2003/pr-030410.html
For more information:
Juniper Networks
Niek van Bemmel
Phone: 06 1272 3713
E-mail: niek@juniper.net
Lammers van Toorenburg PR
Evelien van Dongen
Phone: 030 656 50 70
E-mail: juniper@lvtpr.nl