Juniper returns to profit
Juniper Networks has met analyst expectations for Q`.
The networking equipment vendor posted net revenues for Q1'03 of $157.2 million, 29 per cent up on the $122.2 million for the same period last year. The company recorded net income of $3.7 million for the quarter ending March 31, 2003, compared with a net loss of $46.0 million in the first quarter of 2002.
Juniper's results came out slightly ahead of analysts expectations.
"The first quarter was solid," said Scott Kriens, Chairman and CEO of Juniper Networks. "We are in a unique position to help our customers transform their business of networking."
In a conference call, Juniper executives said they expected Q2 revenues would be "flat to slightly higher."
Juniper is Cisco's closest competitor in the high-end router market. ®
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