Juniper Networks, Inc. Declares Quarterly Cash Dividend, Payable on March 22, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter Ending March 31, 2016; Provides Tax Rate Guidance for the Full Year 2016
January 27, 2016 at 04:21 pm
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Juniper Networks, Inc.'s Board of Directors has declared a quarterly cash dividend of $0.10 per share to be paid on March 22, 2016 to shareholders of record as of the close of business on March 1, 2016.
Juniper Networks, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total net revenues of $1,319.6 million against $1,101.6 million for the same period a year ago. Operating income was $279.1 million against operating loss of $701.8 million for the same period a year ago. Income before income taxes was $260.6 million against loss before income taxes of $694.4 million for the same period a year ago. Net income was $197.8 million or $0.51 per diluted share against net loss of $769.6 million or $1.81 per diluted share for the same period a year ago. Non-GAAP operating income was $342.7 million against $241.6 million for the same period a year ago. Non-GAAP net income was $247.6 million or $0.63 per diluted share against $179.3 million or $0.41 per diluted share for the same period a year ago. Fourth quarter 2015 results reflect strong year-over-year and sequential revenue and earnings growth. The company reported year-over-year and sequential revenue growth in both Americas and APAC, as well as solid growth with Service Providers across all technologies. Specifically, Telecom, Cable, and Cloud Providers each grew revenue more than 20% year-over-year. In the quarter, the company had cash flow from operations of $117.0 million against $284.9 million for the same period a year ago. Capital expenditures for the quarter were $55.4 million against $51.9 million for the same period a year ago
For the year, the company reported total net revenues of $4,857.8 million against $4,627.1 million for the same period a year ago. Operating income was $912.0 million against operating loss of $419.7 million for the same period a year ago. Income before income taxes was $852.2 million against loss before income taxes of $86.3 million for the same period a year ago. Net income was $633.7 million or $1.59 per diluted share against net loss of $334.3 million or $0.73 per diluted share for the same period a year ago. Non-GAAP operating income was $1,165.7 million against $958.4 million for the same period a year ago. Non-GAAP net income was $809.7 million or $2.03 per diluted share against $677.6 million or $1.45 per diluted share for the same period a year ago. Net cash provided by operating activities was $892.5 million against $763.4 million for the same period a year ago. Purchases of property and equipment were $210.3 million against $192.9 million for the same period a year ago.
The company provided earnings guidance for the first quarter ending March 31, 2016. For the period, the company's revenues will be approximately $1,150 million to $1,190 million, non-GAAP gross margin will be approximately 63.5%, plus or minus 0.5%, non-GAAP operating margin will be approximately 21.5% at the midpoint of revenue guidance, non-GAAP tax rate of approximately 26% for the first quarter, which includes the benefit of the permanent R&D tax credit. The company expects non-GAAP net income per share to be in the range between $0.42 and $0.46 on a diluted basis and net income of $247.6 million. This assumes a flat share count from the fourth quarter.
The company expects non-GAAP tax rate of approximately 26% for the and full year 2016, which includes the benefit of the permanent R&D tax credit.
Juniper Networks, Inc. is one of the world's leaders in designing and marketing ultra-high-speed Internet routing equipment. The group's products are primarily intended for telecommunication service providers, government organizations, educational institutions, and research centers. The group's activity is organized around 4 families of products and services:
- networking infrastructure products: high-performance routers and broadband connection equipment;
- network switching products: Ethernet switches, data center switches, etc.;
- IT security products and solutions : firewalls, VPN systems, security housings, intrusion detectors, etc. The group also offers application acceleration solutions.
- consulting, maintenance and training services.
Net sales break down by market into enterprises (46%), service providers (33.1%) and cloud operators (20.9%).
Products are manufactured by subcontractors.
Net sales break down geographically as follows: the United States (55.1%), the Americas (4.8%), Europe/Middle East/Africa (25.3%) and Asia/Pacific (14.8%).
Juniper Networks, Inc. Declares Quarterly Cash Dividend, Payable on March 22, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the First Quarter Ending March 31, 2016; Provides Tax Rate Guidance for the Full Year 2016