Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News

      Juniper Networks Meets Lowered Expectations

      Written by

      Matt Carolan
      Published January 16, 2002
      Share
      Facebook
      Twitter
      Linkedin

        eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

        Juniper Networks, Inc. announced Tuesday that it met lowered earnings expectations for its fourth quarter of 2001, and missed lowered revenue expectations just slightly. The Sunnyvale, Calif. maker of network infrastructure equipment also predicted flat sequential revenue and lower pro forma earnings per share for the first quarter of 2002.

        For its fiscal fourth quarter of 2001 Juniper reported pro forma earnings of five cents per share on net revenue of $151 million, down from ten cents per share on revenue of $201.7 million in the third quarter.

        Analysts surveyed by Thomson Financial/First Call were expecting earnings of five cents per share on revenue of $152.5 million.

        Last December 20, based on “caution on the part of our service provider and carrier customers given current market conditions,” Juniper Networks announced that it was lowering its estimates for the fourth quarter to five cents per share and revenue of between $150 to 155 million from its original October estimates of ten cents per share and revenue of $200 million.

        “2001 was by any measure a challenging year for the market and for Juniper,” said Scott Kriens, Juniper Networks chairman and CEO in a conference call with analysts. “And while we didnt realize the top-line goals we set for ourselves as the year began, we have maintained our investment and met our targets for the innovation that extends our technology and product portfolio lead in the market.”

        Kriens also touted Juniper Networks ability to meet schedules for product development despite more rigid controls on expenses, sixty percent margins, increased cash flow, and a doubling of its customer base in 2001.

        As far as whats ahead, however, Juniper Networks Chief Financial Officer Marcel Gani predicted flat sequential revenue of $150 to 155 million, and reduced pro forma earnings of three cents per share for the fiscal first quarter of 2002. For the first half of 2002, Gani said Juniper Networks predicts revenue of $305 to 315 million and pro forma earnings per share of seven cents.

        Juniper also announced in Tuesdays conference call that Lloyd Carney has joined the company in the position of Chief Operating Officer. Carney was formerly president of the Nortel Networks Wireless Internet organization.

        Juniper Networks closed down 14 cents or 0.77 percent to $17.96 before the announcement on Wednesday.

        Matt Carolan
        Matt Carolan

        Get the Free Newsletter!

        Subscribe to Daily Tech Insider for top news, trends & analysis

        Get the Free Newsletter!

        Subscribe to Daily Tech Insider for top news, trends & analysis

        MOST POPULAR ARTICLES

        Artificial Intelligence

        9 Best AI 3D Generators You Need...

        Sam Rinko - June 25, 2024 0
        AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
        Read more
        Cloud

        RingCentral Expands Its Collaboration Platform

        Zeus Kerravala - November 22, 2023 0
        RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
        Read more
        Artificial Intelligence

        8 Best AI Data Analytics Software &...

        Aminu Abdullahi - January 18, 2024 0
        Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
        Read more
        Latest News

        Zeus Kerravala on Networking: Multicloud, 5G, and...

        James Maguire - December 16, 2022 0
        I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
        Read more
        Video

        Datadog President Amit Agarwal on Trends in...

        James Maguire - November 11, 2022 0
        I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
        Read more
        Logo

        eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

        Facebook
        Linkedin
        RSS
        Twitter
        Youtube

        Advertisers

        Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

        Advertise with Us

        Menu

        • About eWeek
        • Subscribe to our Newsletter
        • Latest News

        Our Brands

        • Privacy Policy
        • Terms
        • About
        • Contact
        • Advertise
        • Sitemap
        • California – Do Not Sell My Information

        Property of TechnologyAdvice.
        © 2024 TechnologyAdvice. All Rights Reserved

        Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

        ×