Juniper Networks Reports Preliminary First Quarter 2011 Financial Results
- Revenue: $1,102 million, up 21% year-over-year and down 7% sequentially
- Operating Margin: 16.1% GAAP; 22.3% non-GAAP
- GAAP Net Income Per Share: $0.24 diluted
- Non-GAAP Net Income Per Share: $0.32 diluted, up 19% year-over-year and down 24% sequentiall
- Juniper estimates revenue for the second quarter ending June 30, 2011, to be in the range of $1.130 billion to $1.180 billion, which represents a year over year increase of approximately 16% to 21%.
- Juniper estimates that its non-GAAP gross margin will remain in its targeted range of between 66% and 68% in the second quarter.
- Juniper estimates that its non-GAAP operating expenses will be lower as a percent of revenue, but will increase sequentially on a dollar basis. As a result, Juniper expects its non-GAAP operating margin for the second quarter will be 22.5%, plus or minus 0.5%.
- Juniper estimates that its non-GAAP net income per share will range between $0.31 and $0.34 on a diluted basis, assuming a slight increase in share count and estimated non-GAAP tax rate of 26.5%. The non-GAAP EPS estimate includes a dilutive impact of approximately one and a half cents, $0.015, per share due to net interest expense from our debt.