Juniper Networks (JNPR) has reported 19.04 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $108.80 million, or $0.28 a share in the quarter, compared with $91.40 million, or $0.23 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $178 million, or $0.46 a share compared with $142.20 million or $0.37 a share, a year ago. Revenue during the quarter grew 11.21 percent to $1,221 million from $1,097.90 million in the previous year period. Gross margin for the quarter contracted 178 basis points over the previous year period to 61.15 percent. Total expenses were 87.20 percent of quarterly revenues, up from 86.46 percent for the same period last year. That has resulted in a contraction of 74 basis points in operating margin to 12.80 percent.
Operating income for the quarter was $156.30 million, compared with $148.70 million in the previous year period.
However, the adjusted operating income for the quarter stood at $253.80 million compared to $211.70 million in the prior year period. At the same time, adjusted operating margin improved 150 basis points in the quarter to 20.79 percent from 19.28 percent in the last year period.
"We had a positive start to 2017, delivering strong year-over year revenue and earnings growth," said Rami Rahim, chief executive officer at Juniper Networks. “I am proud of the strength of our product and solution portfolios, pleased with the diversification of our customer base, and confident in our ability to execute to our strategy. We continue to drive strong momentum with cloud solutions across our key verticals."
For the second-quarter, Juniper Networks projects revenue to be in the range of $1,250 million to $1,310 million. The company projects adjusted operating income to grow at 23.50 percent for the second-quarter. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.51 to $0.57 for the second-quarter.
Operating cash flow improves significantlyJuniper Networks has generated cash of $545.30 million from operating activities during the quarter, up 216.30 percent or $372.90 million, when compared with the last year period. The company has spent $9.70 million cash to meet investing activities during the quarter as against cash outgo of $57.20 million in the last year period.
The company has spent $134 million cash to carry out financing activities during the quarter as against cash inflow of $104.30 million in the last year period.
Cash and cash equivalents stood at $2,242 million as on Mar. 31, 2017, up 36.21 percent or $596 million from $1,646 million on Mar. 31, 2016.
Working capital increases sharply
Juniper Networks has recorded an increase in the working capital over the last year. It stood at $2,411.20 million as at Mar. 31, 2017, up 37.09 percent or $652.30 million from $1,758.90 million on Mar. 31, 2016. Current ratio was at 2.52 as on Mar. 31, 2017, up from 2.16 on Mar. 31, 2016.
Days sales outstanding went down to 53 days for the quarter compared with 65 days for the same period last year.
At the same time, days payable outstanding went down to 34 days for the quarter from 44 for the same period last year.
Debt remains almost stable
Total debt of Juniper Networks remained almost stable for the quarter at $2,134.40 million, when compared with the last year period. Long-term debt of Juniper Networks remained almost stable for the quarter at $2,134.40 million, when compared with the last year period. Total debt was 22.15 percent of total assets as on Mar. 31, 2017, compared with 23.91 percent on Mar. 31, 2016. Debt to equity ratio was at 0.43 as on Mar. 31, 2017, down from 0.46 as on Mar. 31, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
