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+DJ Juniper Networks Confirms 10% Work Force Cut

07/11/2002
Dow Jones News Services
(Copyright © 2002 Dow Jones & Company, Inc.)



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04:16 PM

DJ Juniper Networks Earnings -2: 2Q Fincl Table, Comment


Juniper Networks Inc. - Sunnyvale, Calif.
2nd Quar June 30:
2002 2001
Revenue $117,036,000 $202,181,000
Net income 6,231,000 a (37,131,000)
Avg shrs (basic) 330,957,000 318,196,000
Avg shrs (diluted) 342,172,000 318,196,000
Shr earns (basic)
Net income .02 a (.12)
Shr earns (diluted)
Net income .02 a (.12)
Figures in parentheses are losses.

a. Includes $12.3 million in restructuring costs and a write-down of $32.6 million on minority investments.

Juniper Networks Inc. (JNPR) reported pro forma earnings of $421,000, or less than 1 cent a share, compared with $29.3 million, or 9 cents a share, a year earlier.

Pro forma results exclude amortization of purchased intangibles, deferred stock compensation, restructuring costs and minority investment write-downs.

The company's pro forma results came in better than the Thomson First Call consensus loss estimate of 1 cent a share, and revenue also beat the mean estimate of $109.6 million.

In April, the maker of Internet-switching equipment said second quarter results would likely be flat with first quarter pro forma earnings of $423,000, or less than 1 cent a share, on revenue of $122.2 million.


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