| Juniper Networks Reports Preliminary Fourth Quarter 2009 Results February 01 2010 |
Juniper Networks, Inc. (NYSE: JNPR) today
reported preliminary financial results for the three and twelve months ended December 31, 2009.
Net revenues for the fourth quarter of 2009 increased 2% on a year-over-year basis to $941.5
million. For the twelve months ended December 31, 2009, Juniper\'s revenue decreased 7% on a
year-over-year basis to $3.32 billion.
The Company posted GAAP net income of $131.0 million, or $0.24 per diluted share, and non-
GAAP net income of $173.7 million, or $0.32 per diluted share for the fourth quarter of 2009.
Non-GAAP net income per share remained flat compared to the fourth quarter of 2008. For the
twelve months ended December 31, 2009, GAAP net income was $225.1 million, or $0.42 per
diluted share, and non-GAAP net income was $491.5 million, or $0.92 per diluted share. The
non-GAAP EPS figure represents a decrease of 22% from the $1.18 per diluted share reported
for the twelve months ended December 31, 2008. The reconciliation between GAAP and non-
GAAP results of operations is provided in a table immediately following the Net Revenues by
Market table below.
\"Juniper enters 2010 with good operational execution, improved financial results, and a clear
strategic direction centered on innovation and expanded routes to market,\" said Kevin Johnson,
Juniper Networks Reports Preliminary Fourth Quarter 2009 Results Page 2
Juniper\'s Chief Executive Officer. \"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.\" 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. Non-GAAP operating margin for the fourth quarter of 2009 decreased slightly to 24.4% from 24.5% in the same quarter a year ago. For the fiscal year 2009, Juniper\'s operating margin decreased to 14.5% on a GAAP basis from 19.5% for the prior fiscal year. Non-GAAP operating margin for the fiscal year 2009 decreased to 20.2% from 24.2% in the fiscal year 2008. Juniper 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. For the year ended December 31, 2009, Juniper generated net cash from operations of $796.1 million, compared to $875.2 million in 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. Capital expenditures as well as depreciation and amortization expense during 2009 were $153.1 million and $148.4 million, respectively. \"During 2009, we focused on continuing to improve our operational execution while increasing investments in our product roadmap. Our fourth quarter results demonstrate good progress on both fronts. Revenue increased, we saw increased traction from our new products, and we managed expenses well,\" stated Robyn Denholm, Juniper\'s Chief Financial Officer. \"We remain committed to thoughtfully managing our cost structure, and enter 2010 with optimism for an improved environment as the economy strengthens.\" |
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