Juniper Networks reported net revenues for the second quarter up 15 percent year-over-year and 2 percent sequentially to USD 1.12 billion. Net profit fell to USD 115.6 million, or USD 0.21 per diluted share, from USD 130.5 million or USD 0.24 per share a year earlier. Juniper said the results "reflect momentum in our routing business and a return to solid performance in switching". However, the mixed economic environment had impacted performance in the quarter. The company's operating margin fell to 15.3 percent from 16.1 in the first quarter and 18.9 a year earlier. Juniper said it's tightening control of costs in order to offset the slowdown in certain sales segments. The company expects some near-term weakness due to the timing of certain orders with operator customers. For the third quarter, Juniper forecast revenues of USD 1.07-1.12 billion, an adjusted operating margin of 19-21 percent, and EPS excluding any one-time items of USD 0.26-0.30 per share. Juniper finished June with total cash of USD 4.22 billion.
