Juniper Network revenue up 3% to $1.1 bn in Q1

Juniper Networks Lab

Juniper Networks said net revenues for the first quarter of 2016 were $1,097.9 million, an increase of 3 percent year-over-year and a decrease of 17 percent sequentially.

The Sunnyvale company’s GAAP operating margin for the first quarter of 2016 was 13.5 percent, an increase from 12.3 percent in the first quarter of 2015, and a decrease from 21.2 percent 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 percent year-over-year and a decrease of 54 percent 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 percent year-over-over and a decrease of 43 percent sequentially.

Q1 revenues by product and service

Revenue from product and services totalled $1,097.9 million, up from $1,067.4 million in Q1 2015. A breakdown of data showed that total revenue from product was $753 million, down from $764.1 million, while services revenue increased to $344.9 million from $303.3 million.

Revenue from routing increased to $175.5 million from last year’s $166.5 million.  Revenue from security products and services dropped to $73.4 million from $92.8 million.

Q1 regional performance

Juniper’s revenue from Amercias totaled $628.2 million, an increase from previous year’s $589 million. Revenue declined to $285.4 million from $303.8 million from Europe, Middle East and Africa. Asia Pacific region posted an increase to $184.3 million from $174.6 million.

Outlook

Along with the Q1 financial results, Juniper Networks also shared its outlook for Q2 while saying that the company remains constructive on full-year revenue growth for 2016.

Juniper’s guidance for the quarter ending June 30, 2016 includes the contribution from its acquisition of BTI Systems, which closed on April 1, 2016.

Revenues will be approximately $1,190 million, plus or minus $30 million, which includes approximately $10 million to $15 million related to BTI Systems.