Juniper Networks has reported a revenue of $1.07bn for the second quarter of 2012, down 4% as compared to $1.12bn it reported during the corresponding quarter in 2011.
Juniper Network’s second-quarter income fell 50% to $58m or 11 cents a share against $115.6m or 21 cents a share for the year-ago quarter.
Adjusted net income was $103m or $0.19 per diluted share, for the second quarter of 2012 compared to $167.2m or $0.31 per share in the same period last year.
Juniper Networks CEO Kevin Johnson said the company’s second quarter results delivered sequential top line growth as a result of its focus on execution.
"New products continued to gain traction in the marketplace with key customer wins across our portfolio," Kevin added.
"In a challenging macro environment, we remain focused on our operational execution, delivering great products, driving revenue and managing our cost base."
Juniper’s operating margin for the second quarter increased to 8.1% on a GAAP basis from 4.6% in the first quarter of 2012, and decreased from 15.3% in the second quarter of 2011.
Adjusted operating margin increased to 15% from 12.0% in the first quarter of 2012 and decreased from 21.6% in the second quarter of 2011.
Product revenue for the quarter was down by 10% to $804.7m and service revenue was up by 17.5% to $269m.
Juniper Networks CFO Robyn Denholm said in the second quarter Juniper delivered revenue, margins and earnings ahead of our guidance.
"While customers remain cautious in their investment activity near-term, we are focused on executing our strategy to deliver revenue growth while driving disciplined cost management."
During the second quarter, Juniper repurchased approximately 5 million shares, at an average price of $18.76 per share, or about $94m.
The company said while the long-term fundamentals driving demand for high-performance networking remain solid, its outlook for the September quarter reflects continued near-term macro uncertainty.
"While our new products are resonating with our customers, many customers continue to be cautious about their investment prioritization and timing around project deployments," the company said in a statement.
For the third quarter, Juniper projected earnings between $0.15 and $0.18 per diluted share and revenue of up to $1.040bn to $1.075bn.
The company has also announced a technology partnership with Riverbed Technology in WAN optimisation, application delivery and mobility.
