Juniper Reports Revenue $306.9 Million, Stock Buyback

Juniper Networks reported Q2 revenue of $306.9 million, compared with $165.1 million for the same period last year, an increase of 86%.

GAAP net loss for the second quarter was $12.6 million or $0.02 per share, compared with a GAAP net income of $13.6 million or $0.03 per share in the second quarter of 2003. Non-GAAP net income was $42.7 million or $0.08 per share, compared with non-GAAP net income of $10.3 million or $0.03 per share in the second quarter of 2003.

"We met our financial objectives, exceeded our goals for integration of the NetScreen acquisition, expanded our partner and channel relationships, all while remaining intensely focused on our customers and their needs for secure high performance network solutions," stated Scott Kriens, chairman and CEO of Juniper Networks.

Separately, Juniper's Board of Directors authorized a stock repurchase program of up to $250 million. http://www.juniper.net