Juniper Networks reported solid revenues, expanding margins, and improved profitability. Net revenues for the third quarter of 2008 rose 29% on a year-over-year basis to $947.0 million. The company posted GAAP net income of $148.5 million, or $0.27 per diluted share, and non-GAAP net income of $175.6 million, or $0.32 per diluted share. The non-GAAP EPS figure represents an increase of 45 percent from the $0.22 per diluted share reported for the third quarter of 2007. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Net Revenues by Reportable Segment table below.
“Juniper delivered a solid quarter during a period of global economic uncertainty,” stated Kevin Johnson, chief executive officer of Juniper Networks. “We continue to enhance our product portfolio, expand our reach to customers, and improve operational execution. These factors have enabled us to drive revenue growth and improve operating margins. The long-term growth potential of the high-performance networking market is strong and, even in this uncertain economic climate, we are cautiously optimistic about our near-term opportunities.”http://www.juniper.net
