Sunnyvale, CA - July 12, 2002 - Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of trusted IP infrastructures for the New Public Network, today reported its second quarter results for the period ending June 30, 2002. Net revenues for the second quarter were 117.0 million dollar, compared with 202.2 million dollar for the same period last year, a decrease of 42 percent. Pro forma net income was 421,000 dollar or 0.00 dollar per share, compared with pro forma net income of 29.3 million dollar or 0.09 dollar per share for the second quarter of 2001.
Actual net income for the second quarter, which includes amortization of purchased intangibles of 1.6 million dollar and a deferred compensation credit of 8.0 million dollar, was 6.2 million dollar or 0.02 dollar per share, compared with a net loss of 37.1 million dollar or 0.12 dollar per share in the second quarter of 2001.
Net revenues for the first six months of 2002 were 239.3 million dollar, compared with 534.3 million dollar for the same six-month period in 2001. Pro forma net income for the first six months of 2002 was 844,000 dollar or 0.00 dollar per share, compared with pro forma net income of 121.5 million dollar or 0.35 dollar per share during the same six-month period in 2001. Actual net loss for the first six months of 2002 was 39.8 million dollar or 0.12 dollar per share, compared with actual net income of 21.4 million dollar or 0.06 dollar per share during the same six-month period in 2001.
As announced on July 2, 2002, Juniper Networks completed the acquisition of Unisphere Networks and has begun integration of the new organization, which will be completed within two weeks and will result in cost savings of approximately 7 million dollar per quarter, including headcount reductions of approximately 10 percent of the combined company.
"We enjoyed a healthy balance of revenue contribution last quarter, across both new and existing products, in many different sectors of the networking market," said Scott Kriens, Chairman and CEO of Juniper Networks. "We have continued to execute on our plan to build a portfolio of comprehensive solutions to reach many different types of service providers and carriers around the world, while maintaining our focus on financial fundamentals."
For the complete press release: http://juniper.net/news/pressreleases/2002/pr-020711.html
Juniper Networks
Juniper Networks leads the industry in turning network innovation into the reliable delivery of core, edge, mobile and cable Internet services at scale for the New Public Network. Headquartered in Sunnyvale, California, Juniper Networks offers additional information on its product and service offerings 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, G10, Internet Processor, JUNOS, JUNOScript, M5, M10, M20, M40, M40e, M160, MRX, M-series, NMC-RX, SDX, ServiceGuard, 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 recent Form 10K.
For more information:
Juniper Networks
Niek van Bemmel
Tel.: +44 (0)1372 385 627
E-mail: niek@juniper.net
Lammers van Toorenburg PR
Evelien van Dongen / Annemiek Driessen
Tel.: +31 (0) 30 656 50 70
E-mail: evelien@lvtpr.nl / annemiek@lvtpr.nl