Juniper Networks Reports Higher Quarterly Profit, Revenue

Juniper Networks Inc.'s revenue and profit rose in the first three months of the year on steady underlying demand, helping the company meet its lowered projections.

For the current quarter, Juniper projects revenue of $1.16 billion to $1.22 billion, compared with analysts' projected $1.21 billion in revenue, according to Thomson Reuters.

Shares, down 13% over the past 12 months, edged up 0.4% to $23.50 in after-hours trading.

Juniper, a rival to Cisco Systems Inc., makes routing and switching systems and other equipment used by telecommunications companies and other big network operators.

Over all, Juniper reported a profit of $91.4 million, or 23 cents a share, compared with $80.2 million, or 19 cents a share, a year earlier. Excluding stock-based compensation and other items, profit was 37 cents a share, compared with 32 cents a year earlier.

The most recent results are based on 6% fewer shares outstanding.

Revenue rose 3% to $1.1 billion.

The Sunnyvale, Calif., company earlier this month lowered its guidance by projecting 35 cents to 37 cents a share in adjusted profit on $1.09 billion to $1.10 billion in revenue. In January, when it released fourth-quarter results, it had projected 42 cents to 46 cents per share on $1.15 billion to $1.19 billion in revenue.

Gross margin improved to 62.9% from 61.6% a year earlier.

Revenue in its security product unit, which the company has been trying to stabilize, fell 21% to $73.4 million.

Write to Maria Armental at [e-mail]

(END) Dow Jones Newswires

April 28, 2016 21:15 ET (01:15 GMT)

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