Tue, Aug. 30, 7:10 AM
Tue, Jul. 26, 4:44 PM
- Juniper Networks (NYSE:JNPR) is off slightly after hours, -1.5%, after its Q2 results featured beats on top and bottom lines but also Q3 profit guidance to the low side of expectations.
- Revenues reversed course sequentially, growing 11%, but were flat Y/Y. Net income fell 11% on a GAAP basis and 8% on a non-GAAP basis (up 35% sequentially).
- For Q3, the company says it will "continue to prudently manage operating expenses. However, it expects gross margins to remain approximately at their Q2 levels in the near-term. As a result, Juniper expects operating margins for the full year 2016 to decline slightly relative to the full year 2015." It's guiding to revenues of about $1.25B (vs. consensus for $1.244B) and non-GAAP EPS of $0.48-$0.54 (vs. $0.54 consensus). It expects gross margin of about 63%; operating margin of 23% at the revenue midpoint, and a tax rate of about 26.5%.
- Revenue breakout: Product, $862.1M (down 4.2%); Service, $359.2M (up 11.4%).
- Days sales outstanding were 55, compared to Q1's 64 days and a year-ago 39 days. Capex was $68M.
- Conference call to come at 5 p.m. ET.
- Press Release
Tue, Jul. 26, 4:18 PM
Mon, Jul. 25, 5:35 PM
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Wed, Jul. 6, 8:29 AM
- "Basis for our range bound view is our research with the Service Provider Channel noting potential for margin pressure and share loss in Juniper's (NYSE:JNPR) routing business in FY17/18," says analyst Vijay Bhagavath, downgrading to Hold with price target cut to $22 from $30.
- Longer-term, he's still constructive, noting potential for the company to introduce next-gen custom silicon routers in FY18 that could offset the near-term share loss and margin erosion trends.
- Shares -2.25% premarket to $21.57.
Fri, May 20, 5:39 PM
Thu, Apr. 28, 4:42 PM
- Juniper Networks (NYSE:JNPR) missed slightly with disappointing Q1 results where revenues gained slightly Y/Y but fell 17% from the fourth quarter.
- Similarly, net income (non-GAAP) of $142.2M rose 8% Y/Y but tumbled 43% from Q4. "We remain constructive on the full year and encouraged by early customer feedback on our recently introduced new products," says CEO Rami Rahim.
- Net cash flow from operations fell to $172M from a year-ago $219M.
- Days sales outstanding rose to 64 days from a year-ago 43 (and Q4's 53 days).
- Including BTI Systems -- an acquisition that closed April 1 -- the company's guiding to Q2 revenues of $1.16B-$1.22B (in line) and EPS of $0.44-$0.50 (vs. $0.49 expected).
- Shares fell 0.6% after hours after declining 1.8% during the regular session.
- Conference call to come at 5 p.m.
Thu, Apr. 28, 4:19 PM
- Juniper Networks (NYSE:JNPR): Q1 EPS of $0.37 misses by $0.01.
- Revenue of $1.09B (+1.9% Y/Y) misses by $30M.
- Shares -2.61%.
Wed, Apr. 27, 5:35 PM
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Tue, Apr. 12, 9:12 AM
Mon, Apr. 11, 5:38 PM
Mon, Apr. 11, 4:31 PM
- Juniper Networks (NYSE:JNPR) now expects Q1 revenue of $1.09B-$1.1B and EPS of $0.35-$0.37. That's below prior guidance of $1.15B-$1.19B and $0.42-$0.46, and a consensus of $1.18B and $0.45.
- The networking hardware vendor primarily blames "weaker than anticipated demand from Enterprise and timing of deployments of certain U.S. and EMEA Tier 1 Telecoms." It previously issued soft Q1 guidance in January, while blaming "the uncertainty of the near term global macro environment and potential lumpiness in customer investment patterns." Official Q1 results are due on the afternoon of April 28.
- Juniper is down 8.4% after hours to $22.79. Carrier router archrival Cisco (NASDAQ:CSCO) is down 1.5% to $27.20. In February, Cisco reported its service provider orders were up 5% Y/Y in FQ2 (the January quarter).
Wed, Mar. 9, 1:54 PM
- Looking to better compete against common rivals such as Cisco, HP, and Dell, Juniper (JNPR +1.5%) and Lenovo (OTCPK:LNVGY) have struck a global reseller deal and product-integration partnership encompassing each company's data center hardware lineups.
- Some of the elements of the deal: 1) Companies will be able to buy Juniper's networking hardware from Lenovo, which bought IBM's x86 server unit in 2014. 2) Juniper and Lenovo plan to develop "simplified" data center management and orchestration tools using the latter's Network Director and Contrail SDN software, and the former's xClarity management software. 3) The companies plan to develop "go-to-market plans and a tailor-made resell model to address unique localization requirements in China."
- The deal is also said to cover hyper-converged (integrated server/storage/networking) and hyper-scale data center hardware - EMC, Cisco, HP, Dell, and Oracle are all going after the hyper-converged market, while many Internet companies (as well as some enterprises) have embraced hyper-scale data center architectures.
- Juniper's enterprise revenue rose 8% Y/Y in Q4 to $386.4M, and accounted for 29% of its total revenue. News of the Lenovo deal comes a week after Cisco (NASDAQ:CSCO) unveiled a refresh for its Nexus data center switch line, as well as new switch ASICs (referred to as Cloud Scale) said to deliver unmatched performance and latency.
Wed, Feb. 24, 10:54 AM
- Juniper (JNPR -0.6%) is selling $350M worth of 3.125% senior notes due 2019, and $150M worth of 4.5% senior notes due 2024.
- Expected uses for net proceeds include repaying $300M worth of 3.1% senior notes maturing in March, as well as dividends, buybacks, and other spending.
- Juniper has been buying back shares at an aggressive pace. The company ended 2015 with $3.2B in cash/investments (some of it offshore) and $1.9B in debt.
Fri, Jan. 29, 8:51 AM
- Believing shares are at attractive levels following Thursday's 15.4% post-earnings drop, Bernstein's Pierre Ferragu has upgraded Juniper (NYSE:JNPR) to Outperform. His target is $31.
- Ferragu argues Juniper's light Q1 guidance (heavily responsible for the plunge) is due to management's caution in the face of macro uncertainty. He sees service provider sales (65% of revenue) benefiting from late-cycle capex and isn't worried about Juniper's pending CFO change, given a transition has been planned for some time.
- JNPR +1.6% premarket to $22.82.
Thu, Jan. 28, 9:23 AM
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