Juniper Networks (NASDAQ:JNPR, news, filings) had a big second quarter according to the results announced earlier today. Revenues easily bested both their own guidance and analyst expectations, while non-GAAP earnings per share and operating margin were also a few ticks ahead of the curve. And apparently CEO Kevin Johnson decided this high note was a good chance to go out on top, announcing his plans to retire.
| $ in millions | Q2/12 | Q3/12 | Q4/12 | Q1/13 | Q2/13 | Q3/13 (guidance) |
|---|---|---|---|---|---|---|
| Platform Systems | 810.2 | 828.5 | 866.4 | 809.2 | 863.8 | |
| Software Systems | 263.6 | 289.8 | 274.4 | 250.0 | 286.9 | |
| Revenue | 1073.8 | 1118.3 | 1140.8 | 1059.2 | 1150.7 | 1140-1180 |
| Non-GAAP EPS | 0.19 | 0.22 | 0.28 | 0.24 | 0.29 | 0.29-0.32 |
| Non-GAAP Operating Margin % | 15% | 16.9% | 18.2% | 15.7% | 18.9% | 19.5% |
Johnson won’t be going anywhere until they find a successor, however, and the board has begun its search.
Meanwhile, Juniper’s outlook was also positive and ahead of analyst projections. In fact, it was one of those rare moments where they didn’t hedge very much in their qualitative description of market conditions: service provider demand is good, enterprise demand is improving, and the security business is continuing to stabilize.
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