Juniper Networks has nearly doubled profit for its third-quarter financials, as the networking vendor continues to record higher sales across segments.
For the three months ended September 30, 2015, Juniper reported a profit of $US197.7 million, or $US0.51 a share, compared with $US103.6 million, or $US0.23 a share, a year earlier - an increase of 91 per cent year-over-year.
Net revenues for the third quarter of 2015 were also $US1.25 billion, an increase of 11 per cent year-over-year and two percent sequentially.
“We delivered another solid quarter of growth, demonstrating our continued momentum across the business and ability to execute our clear and deliberate strategy,” says Rami Rahim, CEO, Juniper Networks.
“We continue to challenge the status quo and bring new product innovations to market that bolster our position as a leader in network innovation.
“I’m proud of the results our team has yielded and have confidence in our prospects for the future.”
Total cash, cash equivalents, and investments as of September 30 2015 were $US3.2 billion, compared to $US3 billion as of June 30, 2015, and $US3.3 billion as of September 30, 2014.
Juniper’s net cash flow provided by operations for the third quarter of 2015 was $US293 million, compared to net cash provided by operations of $US263 million in the second quarter of 2015.
“We once again delivered good revenue and earnings for the quarter, a testament to our focus on our financial performance across key business metrics,” adds Robyn Denholm, CFO and COO, Juniper Networks.
“We delivered significant year-over-year earnings expansion, maintained our focus on cost control, meaningfully improved our operating margin and continued to return capital to shareholders.
“I’m pleased with the significant progress our team has made and continue to see growing, evolving and diversifying demand for the solutions we provide.”