Juniper to fall short on Q1
- 09 April, 2009 07:47
Juniper Networks this week said its first quarter revenue would fall short of previously stated guidance.
The company expects revenue for the period that ended March 31 to come in at US$760 million to $765 million, vs. previous estimates of $800 million to $830 million. Juniper said the lower projections are caused by lower than expected sales to service providers.
The revenue shortfall was expected, though not by as much as Juniper indicated. Analysts had previously lowered expectations in the weeks leading up to Juniper's preannouncement. And some believe the company's enterprise business was also challenged in the first quarter.
But Juniper also said earnings would come in at $0.16 to $0.17 per share, within the company's guidance range of $0.15 and $0.17, caused by expense reduction initiatives. Juniper's expenses for the quarter are now expected to range from $375 million to $380 million, vs. previous guidance of $408 million.
Juniper will release full first quarter 2009 preliminary financial results on April 23.