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Juniper in Line

It guides in line too.

Updated from 4:44 p.m.


(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

hit its sales target and guided in line.

The Sunnyvale, Calif., Internet gearmaker gave a limited financial report Wednesday, which included third quarter revenue of $573 million, exactly in line with analysts' expectations. That number compares with $546 million a year ago.

On a conference call with analysts, Juniper executives said orders were strong. And the order booking rate was greater than the order shipment rate -- in other words, book-to-bill was greater than 1.

Looking ahead, the company said it expected fourth-quarter adjusted earnings to be about 19 cents a share. That is in line with analysts' targets.

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The company also told analysts on the earnings call that sales for the fourth quarter will likely end up somewhere in the range between $590 million and $595 million. Analysts' were expecting revenue of $591.6 million, according to Reuters Research.

Juniper's shares are up about 30% since hitting a three-year low in August.

Juniper has stumbled through a rough period marked by a flawed acquisition of security-system developer Netscreen and a sudden attack by rivals to take bigger parts of its edge-router business. More recently, the excellent timing of a few stock-option grants has made the company a

focus of regulators' attention.

The company is reviewing its employee stock option backdating practices and plans to adjust its books for any possible charges. Due to the review, the company offered no earnings updates or guidance.

In a press release Wednesday, CEO Scott Kriens said: "The quarter is a reflection of our uninterrupted focus on innovation and our continuing ability to meet our customers' requirements."

Shares rose 13 cents late Wednesday to $17.75.