Juniper buried in telco gloom
The song remains the same
Juniper Networks, Cisco's main rival in the high-end router market, remains in the red with its latest financial results. The slowdown in spending by debt-laden telcos is continuing to hit networking firms.
Net revenues for Juniper's third quarter were $201.7 million, compared with almost the same figure $201.2 million for the same period last year. Actual net loss for the third quarter was $12.1 million, compared to net income of $58.1 million in the third quarter of 2000.
Recent statements by Cisco's chief executive, John Chambers, that its revenues are in line with market expectations have boosted confidence in part of the networking sector, which has been damaged by the failure of a number of US telcos. The slowdown in the IT market in general has simply piled on misery for the likes of Cisco and Juniper. ®
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