JUNIPER NETWORKS, INC. REPORTS Q4’04 AND YEAR END 2004 FINANCIAL RESULTS

18.01.05

2004 Net Revenue of .3B, up 90%, 2004 GAAP EPS of {summary}.25, up 178%, and 2004 Non-GAAP EPS of {summary}.44, up 214%, from 2003

Sunnyvale, CA - January 18, 2005 - Juniper Networks, Inc. (NASDAQ: JNPR) today reported its results for the quarter and annual periods ended December 31, 2004.
Net revenues for the fourth quarter were 0.1 million, compared to 7.0 million for the same period last year, an increase of 108 percent.
GAAP net income for the fourth quarter was .0 million or {body}.11 per share, compared to .7 million or {body}.03 per share in the fourth quarter of 2003. Non-GAAP net income was .9 million or {body}.15 per share, compared to .7 million or {body}.06 per share in the fourth quarter of 2003. See the table at the bottom of the Non-GAAP Condensed Consolidated Statements of Operations for a reconciliation of the non-GAAP net income to the GAAP net income.
Net revenues for the full year 2004 were ,336.0 million, compared to 1.4 million during calendar year 2003, an increase of 90 percent.
GAAP net income for calendar year 2004 was 5.7 million or {body}.25 per share, compared to .2 million or {body}.09 per share during calendar year 2003. Non-GAAP net income for calendar year 2004 was 8.6 million or {body}.44 per share, compared to .0 million or {body}.14 per share during calendar year 2003. See the table at the bottom of the Non-GAAP Condensed Consolidated Statements of Operations for a reconciliation of the non-GAAP net income to the GAAP net income.
Cash provided by operations was 2.5 million for the fourth quarter, compared to cash provided by operations of .9 million for the same period last year. Cash provided by operations for 2004 was 9.4M, up from 8.6M in 2003. Capital expenditures and depreciation during the fourth quarter were .5 million and .5 million, respectively.
"The fourth quarter was strong in every dimension, which completed a year of record performance," said Scott Kriens, CEO of Juniper Networks. "We are in the sweet spot of the new networking industry, with both opportunities and capabilities to extend our growth and leadership strengths in an expanding marketplace."
Juniper Networks’ hosted conference call will be archived on the Juniper Networks website until February 28, 2005, at: http://www.juniper.net/company/investor/conferencecall.html. A replay will be accessible by telephone after 3:00 p.m. Pacific Time through January 25, 2005 by dialing +1 402-977-9140, reservation number, 21227354. The replays will be available 24 hours/day, including weekends.
About Juniper Networks, Inc.
Juniper Networks is the leader in delivering secure and assured communications over a single IP network. The company's purpose-built, high performance IP platforms enable customers to support many different services and applications at scale. Service providers, enterprises, governments and research and education institutions worldwide rely on Juniper Networks to deliver products for building networks that are tailored to the specific needs of their users, services and applications. Juniper Networks' portfolio of proven networking and security solutions supports the complex scale, security and performance requirements of the world's most demanding networks. Additional information can be found at www.juniper.net.