Juniper blows past revenue estimates

By , Network World |  Business, Juniper Networks

Juniper posted fourth-quarter revenue well beyond Wall Street expectations.

Revenue for the period ended Dec. 31 was $1.19 billion, up 26% from last year and 18% from the third quarter of 2010.  Consensus analyst estimates from Thomson Reuters was for revenue of $1.12 billion.

Net income excluding charges and other items was $228.6 million, or $0.42 per diluted share, up 31% from last year and last quarter. Analysts were expecting earnings of about $201.4 million, or $0.37 per share.

For the year ended Dec. 31, 2010, Juniper's revenue increased 23% from 2009 to $4.1 billion. Net income, minus charges, expenses and other items, was $710.5 million, or $1.32 per diluted share, and increase of 43% over 2009."Juniper produced outstanding results in 2010, the first year of a multi-year growth strategy centered on mobile Internet and cloud computing trends," said Juniper CEO Kevin Johnson, in a statement. "We expect much of the same in 2011 as we introduce new products."

Those new products include the Stratus cloud-computing fabric offerings, and the evolved packet core software from the Project Falcon mobile Internet initiative. Johnson said Juniper shipped a beta version of Stratus to a large customer and the first beta release of Falcon software to a major service provider in the fourth quarter.

In the quarter, meanwhile, revenue from Juniper's Infrastructure Products Group totaled $907.2 million. Service Layer Technologies tallied up $282.8 million. The company's service provider business accounted for $783.8 million in revenue, while enterprise was $406.1 million, or 34% of revenue. This is up from 32% of revenue for the fourth quarter of 2009.

Sales of Juniper's EX enterprise switches was $123 million in the quarter, up 66% from last year and 22% sequentially

For the full year, enterprise was $1.46 billion, or 36% of total revenue, up from 34% last year. The business grew 30% on a full year basis from 2009, and 34% in the quarter, despite some analyst expectations of a soft quarter.

Service provider revenue was $2.6 billion, up from $2.2 billion last year. Verizon accounted for more than 10% of Juniper's revenue for the quarter and for the year.


Originally published on Network World |  Click here to read the original story.
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