Juniper Beats but Tempers Optimism

NEW YORK (TheStreet) -- Juniper (JNPR Quote) saw slower sales declines but could not say that a recovery in tech spending is near.

The Sunnyvale, Calif. networking gearmaker posted an adjusted profit, excluding one-time items, of 23 cents a share, down from the 32 cents in the year ago quarter and slightly above the pro forma earnings of 21 cents analysts expected.

Sales for the third quarter ended last month were $823.9 million, up from the $786.4 million level in the second quarter but 13% below the $946.9 million revenue booked in the year-ago period. Analysts were looking for sales of $800 million.

"Visibility in key areas of our business is beginning to improve," CEO Kevin Johnson said in a press release Thursday, adding "even as our optimism grows, macroeconomic conditions remain uncertain."

Juniper competes with other Internet equipment suppliers like Cisco(CSCO Quote) and Ciena(CIEN Quote) and outfits like Riverbed(RVBD Quote). The company's solid numbers but limited view on sales trends was not the all-clear sign investors had been hoping to see for the tech sector.

Juniper shares were down 2 cents to $28.20 in afterhours trading Thursday.