Thursday, April 24, 2008 8:46:54 PM
SAN FRANCISCO (MarketWatch) -- Juniper Networks Inc. on Thursday reported a 66% jump in first-quarter profit thanks to strong sales of its network infrastructure products and the success of its efforts to manage costs.
The Sunnyvale, Calif. company reported net income of $110.4 million, or 20 cents a share, compared with a profit of $66.65 million, or 11 cents a share, for the year-earlier period.
Revenue was $822.9 million, up from $626.9 million. Adjusted income was $149.5 million, or 27 cents a share. Analysts had expected the company to report earnings of 24 cents a share on revenue of $815.4 million, according to a survey by FactSet Research.
In a statement, Juniper Chief Executive Scott Kriens said the results highlighted the company's high-performance networking business, saying the networking gear maker sees opportunities for growth "across our markets and around the world."
JNPR shares rose 2.5% in after-hours trading.
The Sunnyvale, Calif. company reported net income of $110.4 million, or 20 cents a share, compared with a profit of $66.65 million, or 11 cents a share, for the year-earlier period.
Revenue was $822.9 million, up from $626.9 million. Adjusted income was $149.5 million, or 27 cents a share. Analysts had expected the company to report earnings of 24 cents a share on revenue of $815.4 million, according to a survey by FactSet Research.
In a statement, Juniper Chief Executive Scott Kriens said the results highlighted the company's high-performance networking business, saying the networking gear maker sees opportunities for growth "across our markets and around the world."
JNPR shares rose 2.5% in after-hours trading.
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