Juniper Networks, Inc. Reports Q1′07 Financial Results

Juniper Networks, Inc. Reports Q1′07 Financial Results

Juniper Networks, Inc. (NASDAQ: JNPR) today reported its results for the first quarter ended March 31, 2007. Net revenues for the first quarter of 2007 were $626.9 million, compared with $566.7 million for the first quarter of 2006, an increase of 11 percent.

Net income on a GAAP basis for the first quarter of 2007 was $66.6 million or $0.11 per share, compared with a GAAP net income of $75.8 million or $0.13 per share for the first quarter of 2006. Non-GAAP net income for the first quarter of 2007 was $112.4 million or $0.19 per share, compared with non-GAAP net income of $113.4 million or $0.19 per share for the first quarter of 2006. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Net Product Revenue by Operating Segment table.

Net cash flows from operations for the first quarter of 2007 were $152.6 million, compared to cash provided by operations of $138.6 million for the first quarter of 2006. Capital expenditures and depreciation during the first quarter of 2007 were $32.4 million and $22.2 million, respectively.

“Our first quarter results were in line with our expectations,” said Scott Kriens, Juniper Networks’ Chairman and CEO. “We continue to see a solid opportunity for Juniper moving forward and remain focused on meeting the strategic needs of our customers and sharpening our execution.”

Read the complete Press Release