Juniper Networks, Inc. Reports Q1’05 Financial Results

27.04.05

Q1’05 Net Revenue 9.1M; GAAP EPS {summary}.13; Non-GAAP EPS {summary}.16

Sunnyvale, CA – April 19, 2005 -- Juniper Networks, Inc. (NASDAQ: JNPR) today reported its results for the quarter ended March 31, 2005.

Net revenues for the quarter were 9.1 million, compared to 4.1 million for the same period last year, an increase of 100%.

GAAP net income for the quarter was .4 million or {body}.13 per share, compared to a GAAP net income of .5 million or {body}.08 per share in the first quarter of 2004. Non-GAAP net income was .9 million or {body}.16 per share, compared to non-GAAP net income of .4 million or {body}.08 per share in the first quarter of 2004. 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 4.4 million for the quarter, compared to cash provided by operations of .8 million for the same period last year. Capital expenditures and depreciation during the quarter were approximately .5 million and .7 million, respectively.

"We are once again pleased with the results behind a solid quarter of growth in both our financial metrics as well as our marketplace progress," said Scott Kriens, chairman and CEO of Juniper Networks. “The themes behind our success remain the same – innovation, focus, execution – all of which makes the delivery of our continued growth possible and expands our leadership presence in the industry”.

Juniper Networks is focusing on leveraging its traffic processing expertise to deliver secure and assured networking to help our customers in numerous ways and across different geographies.
· Juniper Networks is enabling its service provider customers to enhance their businesses through the delivery of higher-margin content and network-based services. With the recently announced acquisition of Kagoor Networks the company is extending the value offered to these customers, allowing them to deliver rich services such as Voice-over-IP with security and assurance.
· An increasing number of service providers worldwide are offering both network and customer premise equipment (CPE) -based managed SSL VPN services based on our market leading products. These solutions enable them to deliver flexibility, security, and performance assurances to their customers across a range of operating environments and usage conditions.
· Juniper Networks is delivering solutions to secure intranets and extranets by rebuilding trust in the network. This includes enabling customers to identify and address not only who is on the network, and what device they are using, but also what they are trying to do on the network.
· In addition, Juniper Networks is seeing the robustness and quality of the portfolio extending into the enterprise through our J-series and M-series platforms. These platforms are being deployed by service providers, either as managed CPE offerings to upgrade premium managed services and deliver end-to-end quality of service, or by large distributed enterprises for whom centralized management, MPLS and robust software are key in supporting their mission critical business functions.

Juniper Networks’ web cast conference call is archived on the Juniper Networks website until May 19, 2005. A replay is accessible by telephone until April 26th, 2005 by dialing +1 402-977-9140, reservation number, 21238298. The replays will be available 24 hours/day, including weekends.


About Juniper Networks, Inc.
Juniper Networks is the leader in enabling 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.