SUNNYVALE, CA--(Marketwired - April 25, 2017) - #JuniperNetworks (JNPR), an industry leader in automated, scalable and secure networks, today reported preliminary financial results for the three months ended March 31, 2017 and provided its outlook for the three months ending June 30, 2017. Net revenues for the first quarter of 2017 were $1,221.0 million, an increase of 11% year-over-year and a decrease of 12% sequentially.
Juniper's GAAP operating margin for the first quarter of 2017 was 12.8%, a decrease from 13.5% in the first quarter of 2016, and a decrease from 20.7% in the fourth quarter of 2016.
Non-GAAP operating margin for the first quarter of 2017 was 20.8%, an increase from 19.3% in the first quarter of 2016, and a decrease from 26.5% in the fourth quarter of 2016.
Juniper posted GAAP net income of $108.8 million, an increase of 19% year-over-year, and a decrease of 42% sequentially. GAAP diluted earnings per share for the first quarter of 2017 was $0.28.
Non-GAAP net income was $178.0 million, an increase of 25% year-over-year, and a decrease of 30% sequentially. Non-GAAP diluted earnings per share for the first quarter of 2017 was $0.46.
The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Preliminary Net Revenues by Geographic Region table below.
"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."
http://finance.yahoo.com/news/juniper-networks-reports-preliminary-first-202642269.html
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