Juniper's Q4 Revenues Increase 20% YoY to $1.32 Billion

Juniper Networks reported Q4 2015 revenue of $1,319.6 million, an increase of 20% year-over-year and 6% sequentially. Juniper's operating margin for the fourth quarter of 2015 increased to 21.2% on a GAAP basis, from 20.7% in the third quarter of 2015, and increased from (63.7%) in the fourth quarter of 2014. Net income (GAAP) was $197.8 million, consistent with the third quarter, and increased significantly compared to a GAAP net loss of $769.6 million for the fourth quarter of the prior fiscal year, even when adjusted for the $850 million non-cash goodwill impairment charge taken in the fourth quarter of 2014. GAAP net income per diluted share was $0.51, inclusive of a $0.03 benefit due to the renewal of the R&D tax credit for 2015.

"2015 was a year of solid execution and product innovation for Juniper Networks. I am very proud of the many accomplishments we've made as a company to drive growth and create value," said Rami Rahim, chief executive officer at Juniper Networks. "As a challenger in this industry, we plan to remain nimble, anticipate and deliver what our customers require for network innovation, and continue our relentless focus on execution to maximize long-term value for our shareholders."

The company also announced that Robyn Denholm will step down as CFO and be replaced by Ken Miller, who currently serves as the company's senior vice president, finance.

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