Juniper’s Q1 Holds the Line

Juniper Networks (NASDAQ:JNPR, news, filings) is one of the early birds of earnings season, and today offered up a bit of spring with its Q1/11 results.  The company’s revenue of $1.102B and non-GAAP earnings per share of $0.32 were down sequentially from the seasonally strong Q4, but were perfectly inline with analyst projections.  Here’s a quick table of the routing giant’s numbers and guidance in the context of last year’s results:

$ in millions	Q1/10	Q2/10	Q3/10	Q4/10	Q1/11	Q2/11  (guidance)
Revenue	$912.6	$978.3	$1012.4	$1190	$1102	$1130-1180
EPS (non-GAAP)	0.27	0.30	$0.32	$0.42	$0.32	$0.31-0.34
Operating Margin (non-GAAP)	23.2%	23.9%	24.1%	24.5%	22.3%	22-23%

 

Revenue guidance for Q2 was inline, while that for non-GAAP earnings per share was a bit light compared with projections.  Nevertheless, the markets seem to have liked the results as the stock is up over $1 after hours.  I believe this is because of not-so-latent fears that the effects of the earthquake and tsunami in Japan would be much more apparent in results across a wide spectrum of companies.  Juniper’s Q2 forecast includes such effects, and was still quite solid – and therefore reassuring.

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Categories: Financials · Telecom Equipment