Juniper Networks has reported preliminary financial results for the three months ended June 30, 2017 and provided its outlook for the three months ending September 30, 2017.

Q2 2017 financial performance. Net revenues were USD 1308.9 million, an increase of 7 percent y-o-y and sequentially. GAAP operating margin was 19.7 percent, an increase from 16.7 percent in the second quarter of 2016, and an increase from 12.8 percent in the first quarter of 2017.

Non-GAAP operating margin was 24.2 percent, an increase from 22.5 percent in the second quarter of 2016, and an increase from 20.8 percent in the first quarter of 2017.

GAAP net income was USD 179.8 million, an increase of 28 percent y-o-y and 65 percent sequentially, resulting in diluted earnings per share of USD 0.47.

Non-GAAP net income was USD 220.5 million, an increase of 15 percent y-o-y and 24 percent sequentially, and diluted earnings per share was USD 0.57.

Total cash, cash equivalents, and investments as of June 30, 2017 were USD 4,215 million, compared to USD 3491 million as of June 30, 2016, and USD 4044 million as of March 31, 2017.

Net cash flows provided by operations for the second quarter of 2017 was USD 299 million, compared to net cash flows provided by operations of USD 360 million in the second quarter of 2016, and USD 545 million in the first quarter of 2017.

Days sales outstanding in accounts receivable, or DSO, was 52 days in the second quarter of 2017, compared to 55 days in the second quarter of 2016, and 49 days in the first quarter of 2017.

Capital expenditures were USD 32 million and depreciation and amortization expense was USD 55 million during the second quarter of 2017.

Juniper's Board of Directors has declared a quarterly cash dividend of USD 0.10 per share to be paid on September 22, 2017 to shareholders of record as of the close of business on September 1, 2017.

During the second quarter of 2017, the company repurchased USD 125 million of shares and paid USD 38 million in dividends. In 2017, the company intends to return approximately 50 percent of annual free cash flow to its shareholders, inclusive of share repurchases and dividends. Free cash flow is calculated as net cash provided by operating activities less capital expenditures.

'We had good revenue growth and earnings expansion in the second quarter. We are executing on our strategy to lead the transformation to the cloud, and I am pleased with the continued strength in our cloud solutions. We believe our innovative product portfolio has us well positioned to expand our business opportunities as customers look for high-performance network solutions that deliver scale, performance and automation.'Rami Rahim, CEO & Juniper Networks

Rami Rahim,
CEO &
Juniper Networks


 

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