GEC NEWS WIREJuniper Networks declared their preliminary financial results for the three months ended March 31, 2016 and provided its outlook for the three months ending June 30, 2016. Net revenues for the first quarter of 2016 were $1,097.9 million, an increase of 3% year-over-year and a decrease of 17% sequentially. Juniper’s GAAP operating margin for the first quarter of 2016 was 13.5%, an increase from 12.3% in the first quarter of 2015, and a decrease from 21.2% in the fourth quarter of 2015. Non-GAAP operating margin for the first quarter of 2016 was 19.3%, an increase from 18.5% in the first quarter of 2015, and a decrease from 26.0% in the fourth quarter of 2015.
Juniper posted GAAP net income of $91.4 million, or $0.23 per diluted share for the first quarter of 2016, an increase of 14% year-over-year and a decrease of 54% sequentially. Non-GAAP net income was $142.2 million, or $0.37 per diluted share for the first quarter of 2016, an increase of 8% year-over-over and a decrease of 43% sequentially.
“While our results for the March quarter were disappointing, we remain constructive on the full year and encouraged by early customer feedback on our recently introduced new products,” said Rami Rahim, CEO at Juniper Networks.
“We are taking a conservative and prudent approach to managing our business, while at the same time targeting areas that represent growth opportunities for the Company,” said Ken Miller, CFO at Juniper Networks.
