That was more or less in line with Wall Street’s forecast of $1.18 billion in revenue and earnings of 46 cents per share. Hence, for the next quarter Juniper is guiding for revenue of approximately $1.2 billion, which would equate to earnings of 46 cents per share. However, it said that even with those actions, extended lead times and elevated costs will likely persist for the next few quarters at least. The company posted an unusually long statement in its earnings release, saying that over the past quarter it managed to increase inventory levels by strengthening its supply chain. That has led to an ongoing component shortage, he said. During a conference call, Juniper Chief Financial Officer Ken Miller told analysts the company continues to feel the impact of semiconductor supply constraints. What struck investors though is not what happened, but what is likely to happen in the coming quarters. “Our experience-first strategy is working, our teams are executing well and the investments we have made in our customer solutions and our sales organization are enabling us to capitalize on improving market-end conditions,” he said.
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Juniper Chief Executive Rami Rahim (pictured) told investors the company saw double-digit product revenue growth for the second quarter in a row, plus record product orders for the June quarter.
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Juniper, which sells a mix of networking hardware and software products to enterprises, reported a net profit of $141 million for the quarter, up 21% from a year ago, showing good cost management. That was better than expected, with analysts looking for earnings of just 39 cents per share on sales of $1.14 billion. It reported a profit before certain costs such as stock compensation of 43 cents per share on revenue of $1.17 billion, up 8% from a year ago. The networking firm actually delivered strong second-quarter results. today after the company warned that it may struggle to protect its profit margins in the coming quarter amid problems stemming from the global semiconductor shortage. Investors bailed out on Juniper Networks Inc.
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