Juniper Networks, Inc. Declares Quarterly Cash Dividend, Payable on March 24, 2015; Announces Preliminary Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015
January 27, 2015 at 04:05 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 24, 2015 to shareholders of record as of the close of business on March 3, 2015.
The company announced preliminary unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total net revenues of $1,101.6 million against $1,273.6 million a year ago. Operating loss was $701.8 million against income of $195.4 million a year ago. Loss before income taxes $694.4 million against income of $185.2 million a year ago. Net loss was $769.6 million or $1.81 per diluted share against income of $151.8 million or $0.30 per diluted share a year ago. Non-GAAP operating income was $241.6 million against $278.3 million a year ago. Non-GAAP net income was $179.3 million against $215.8 million a year ago. Non-GAAP net loss per diluted share was $1.81 against EPS of $0.30 a year ago. Capital expenditures were $52 million. Net cash flow from operations for the fourth quarter of 2014 was $291 million, compared to $394 million in the fourth quarter of 2013.
For the year, the company reported total net revenues of $4,627.1 million against $4,669.1 million a year ago. Operating loss was $419.7 million against income of $565.9 million a year ago. Loss before income taxes $86.3 million against income of $525.5 million a year ago. Net loss was $334.3 million or $0.73 per diluted share against income of $439.8 million or $0.86 per diluted share a year ago. Non-GAAP operating income was $958.4 million against $895.9 million a year ago. Non-GAAP net income was $677.6 million against $654.0 million a year ago. Non-GAAP net loss per diluted share was $0.73 against EPS of $0.86 a year ago. Net cash provided by operating activities was $763.4 million against $845.9 million a year ago. Purchases of property and equipment were $192.9 million against $230.0 million a year ago.
The company estimates that for the first quarter ending March 31, 2015: revenues will be in the range of $1,020 million to $1,060 million; non-GAAP gross margin will be approximately 63.5%, plus or minus 0.5%; non-GAAP net income per share will range between $0.28 and $0.32 on a diluted basis. This assumes a share count of 420 million and a non-GAAP tax rate of 27% for the first quarter. Operating expenses are expected to be $475 million, plus or minus $5 million.
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 24, 2015; Announces Preliminary Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015