Juniper Networks Reports Lower Profit
July 26 2016 - 5:50PM
Dow Jones News
Juniper Networks Inc. on Tuesday reported an 11% decline in
second quarter profit and warned challenging market conditions
would continue to pressure margins.
The Sunnyvale, Calif., company said it expects operating margins
to decline slightly from the 18.8% it reported last year.
For the current quarter, the network-equipment company projects
48 cents to 54 cents in adjusted profit on $1.22 billion to $1.28
billion in revenue, compared with analysts' projected 54 cents in
adjusted profit and $1.24 billion in revenue, according to Thomson
Reuters.
Shares, down 12% this year, fell 0.9% to $24 in after-hours
trading.
Sunnyvale, Calif.-based Juniper, a rival to Cisco Systems Inc.,
makes routing and switching systems and other equipment used by
telecommunications companies and other big network operators.
Over all, Juniper reported a profit of $140 million, or 36 cents
a share, down from $158 million, or 40 cents a share, a year
earlier. Excluding stock-based compensation and other items, profit
was 50 cents a share, compared with 53 cents a year earlier and
analysts' projections of 47 cents a share. The most recent results
are based on 2.7% fewer shares outstanding.
Revenue edged down 0.1% to $1.22 billion, at the high-end of its
guidance.
Gross profit margin narrowed to 61.9% from 63.9% a year
earlier.
Revenue in its security product unit, which the company has been
trying to stabilize, fell 27% in the latest quarter to $78.2
million.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
July 26, 2016 17:35 ET (21:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Sep 2023 to Sep 2024