Juniper Networks reported preliminary net revenues of $912.6 million for the first quarter of 2010, up 19% on a year-over-year basis. GAAP net income was $163.1 million, or $0.30 per diluted share, and non-GAAP net income of $146.4 million, or $0.27 per diluted share for the first quarter of 2010. GAAP net income includes a non-recurring income tax benefit of $54.1 million, or $0.10 per diluted share, related to a change in the tax treatment of stock-based compensation in R&D.
Juniper’s operating margin for the first quarter of 2010 increased to 17.6% on a GAAP basis from 10.6% in the same quarter a year ago. Non-GAAP operating margin for the first quarter of 2010 increased to 23.2% from 16.4% in the same quarter a year ago.
“Juniper executed very well in the first quarter and has set a solid foundation for growth in 2010,’ stated Kevin Johnson, Juniper’s Chief Executive Officer. http://www.juniper.net
