Apr 12, 2002 : Q1 Sales Flat for Juniper Networks
📅 - Internet equipment manufacturer Juniper Networks (juniper.net) said yesterday that the telecom downturn took a large toll on the company's sales during the first quarter of its fiscal year.
Net revenues decreased 63% from the same period a year ago, falling from more than $330 million to $122 million.
The announcement did not take the investment community off guard, as the company had warned last month that it expected revenues to be lower than its original guidance.
The company said that actual net loss for the quarter, including amortization of deferred compensation of $13.6 million, amortization of purchased intangibles of $1.6 million and write-downs in equity investments totaling $30.6 million, was $46.0 million or 14 cents per share. In the first quarter of 2001, the company reported net income of $58.6 million, 17 cents per share.
"The critical objective for Juniper Networks is to position ourselves for the industry recovery,'' said Scott Kriens, Chairman and CEO of Juniper Networks. "The company benefits from increased customer reception, and remains financially healthy while committed to investment and innovation across multiple markets, which will drive our growth as the industry outlook improves."
Net revenues decreased 63% from the same period a year ago, falling from more than $330 million to $122 million.
The announcement did not take the investment community off guard, as the company had warned last month that it expected revenues to be lower than its original guidance.
The company said that actual net loss for the quarter, including amortization of deferred compensation of $13.6 million, amortization of purchased intangibles of $1.6 million and write-downs in equity investments totaling $30.6 million, was $46.0 million or 14 cents per share. In the first quarter of 2001, the company reported net income of $58.6 million, 17 cents per share.
"The critical objective for Juniper Networks is to position ourselves for the industry recovery,'' said Scott Kriens, Chairman and CEO of Juniper Networks. "The company benefits from increased customer reception, and remains financially healthy while committed to investment and innovation across multiple markets, which will drive our growth as the industry outlook improves."
Reads: 1972 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/jun041202.cfm
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