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Juniper Networks reports preliminary Q42009 results
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Juniper Networks, Inc. has reported preliminary financial results for the three and twelve months ended December 31, 2009. The company's net revenues for the fourth quarter of 2009 increased 2% on a year-over-year basis to $941.5 million. Net income was $131 million, or $0.24 per diluted share for the fourth quarter of 2009. Juniper's operating margin for the fourth quarter of 2009 decreased to 18.6% on a GAAP basis from 20.6% in the same quarter a year ago. The company generated net cash from operations for the fourth quarter of 2009 of $259.6 million, compared to net cash provided by operations of $215.1 million for the same quarter of 2008. Capital expenditures as well as depreciation and amortization expense during the fourth quarter of 2009 were $39.9 million and $36.6 million, respectively.
For the year ended December 31, 2009, Juniper's revenue decreased 7% on a year-over-year basis to $3.32 billion. Net income for the twelve months was $225.1 million, or $0.42 per diluted share. For the year 2009, Juniper's operating margin decreased to 14.5% on a GAAP basis from 19.5% for the prior fiscal year. The company generated net cash from operations of $796.1 million in 2009, compared to $875.2 million in 2008. Capital expenditures as well as depreciation and amortization expense during 2009 were $153.1 million and $148.4 million, respectively.
Kevin Johnson, Juniper's Chief Executive Officer said "Juniper enters 2010 with good operational execution, improved financial results, and a clear strategic direction centered on innovation and expanded routes to market. Our results for the year, capped by a strong fourth quarter, validate our commitment to managing the business carefully while maintaining investments in innovation that we believe will help us grow our share of the high-performance networking market. We see improving conditions in 2010 and are positioning Juniper to accelerate out of the downturn." |
