Sunnyvale, CA - March 27, 2002 - Juniper Networks, Inc. (Nasdaq: JNPR), a leading provider of IP infrastructures for the New Public Network, today revised its financial outlook for the first quarter of fiscal 2002, which will end March 31, 2002.
Juniper Networks expects revenue for the first quarter to be approximately $120-$125 million, down from the original guidance of $150-155 million. Pro forma, fully-diluted earnings is expected to be slightly above breakeven. The company's revised outlook reflects continued cautious spending on the part of service providers and carriers, as evidenced by widespread reductions in capital expenditures in the telecommunications market.
Commenting on today's announcement, Scott Kriens, chairman and CEO of Juniper Networks said, "Spending levels during the quarter were below expectations, but represented a more diverse set of key service providers and carriers. We remain committed to financial fundamentals, our multiple market strategy, and to the expansion of our product portfolio, all of which will be critical growth drivers when the public networking industry outlook improves."
Juniper Networks recently announced major enhancements to its edge portfolio-including revenue-generating IP services such as security and virtual private network capabilities highlighting the company's new product cycle. The company's collaboration with Ericsson progressed to offer a complete mobile edge and core solution garnering new customers including Wind Telecom in Italy and Inmarsat in the United Kingdom. Additional customer wins in core, edge, cable, and mobile markets include Deutsche Telekom, NC Numericable, Cable & Wireless, China Mobile, Electric Lightwave, and Callahan Group's Ish.
Conference Call Information
Juniper Networks will discuss its revised outlook today, March 27, via a conference call Webcast. The call will begin at 1:45 p.m. Pacific Time. The dial-in number for the conference call is 888-489-9504, or 212-676-5090.
An audio replay will be available. The replay dial-in number is 800-633-8284 or 858-812-6440, and the reservation number is 20474300. It will be available 24 hours/day through April 3, 2002.
About Juniper Networks, Inc.
Juniper Networks leads the industry in turning network innovation into the profitable delivery of edge, core, mobile, and cable Internet services at scale for the New Public Network. Headquartered in Sunnyvale, California, Juniper Networks offers additional information on its product and service offerings at www.juniper.net.
Juniper Networks is registered in the U.S. Patent and Trademark Office and in other countries as a trademark of Juniper Networks, Inc. Broadband Cable Processor and G10 are trademarks of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.