Juniper Networks Posts Hefty Profits

Shares of Juniper Networks ( JNPR) were up in late trading Thursday after it beat expectations with a 75% jump in third-quarter net income.

The Sunnyvale, Calif.-based networking gearmaker posted net income of $148.5 million, or 27 cents a share, up from $85.1 million, or 15 cents a share, in the year-ago period. Adjusted for one-time items, Juniper had a profit of 32 cents a share.

Sales for the quarter were $947 million, a 29% increase over the $735 million level last year. Juniper said adjusted operating margin for the quarter rose to 25.1% from 21.1% in the same quarter a year ago and 23.6% sequentially.

On average, analysts had been looking for a profit of 29 cents a share on sales of $927.4 million, according to Thomson Reuters. After falling 6.2% during Thursday's session, shares of Juniper were rising 2.4% in late trading to $18.25.

"Juniper delivered a solid quarter during a period of global economic uncertainty," said Juniper CEO Kevin Johnson in a statement. "The long-term growth potential of the high-performance networking market is strong and, even in this uncertain economic climate, we are cautiously optimistic about our near-term opportunities."

Among other networking-equipment makers, Nortel Networks ( NT) plummeted 21.7% during Thursday's session, Alcatel-Lucent ( ALU) fell 10.3%, and Cisco Systems ( CSCO) was off 1%.

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