Juniper On Target, But Outlook Fails to Impress

April 23rd, 2013 by · Leave a Comment

In the networking equipment segment, Juniper Networks (NASDAQ:JNPR, news, filings) kicked off earnings season wits first quarter of 2013 results.  Revenues were within the guided range, although slightly lower than composite analyst expectations.  However earnings per share of $0.24 were stronger, boosted by three cents by a retroactive R&D tax credit.  But as usual it was guidance that most people focused on.  Here’s a quick table with some context:

$ in millions Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q2/13
Platform Systems 765.7 810.2 828.5 866.4 809.2
Software Systems 266.8 263.6 289.8 274.4 250.0
Revenue 1032.5  1073.8 1118.3 1140.8 1059.2 1070-1100
Non-GAAP EPS 0.16 0.19 0.22 0.28 0.24 0.22-0.26
Non-GAAP Operating Margin % 12.0%  15% 16.9% 18.2% 15.7% 17.5%

Analysts had been looking for Q2/2013 revenue and earnings per share at the top of the ranges that Juniper was willing to project.  They said they expect service provider spending in the US to stay the same with EMEA improving a bit, but still that pesky continued weakness in enterprise spending.  Nothing new here of course, just the usual lack of an economic boom on the horizon.

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Categories: Financials · Telecom Equipment

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