Juniper Networks Cuts Guidance for March Quarter
12 April 2016 - 7:41AM
Dow Jones News
By Maria Armental
Juniper Networks Inc. said its results for the March quarter
would disappoint, as it faced weaker demand and unfavorable timing
of customers' adopting its products.
The Silicon Valley company said that for the quarter ended March
31, it expects to report adjusted profit of 35 cents to 37 cents
per share on $1.09 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,
mostly below analysts' projections at the time of 47 cents per
share on $1.19 billion in revenue, according to Thomson
Reuters.
Shares, up 4.7% over the past 12 months, fell 8% to $23 in
after-hours trading.
Juniper, one of the largest rivals to Cisco Systems Inc., makes
routing and switching systems and other equipment used by
telecommunications companies and other big network operators.
The company is scheduled to report results April 28.
(END) Dow Jones Newswires
April 11, 2016 17:26 ET (21:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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