Juniper's Strong 4Q Signals Net Gear Rebound
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Juniper Networks became the latest tech company to show signs of life in the fourth quarter, posting better-than-expected sales and earnings as demand from service providers such as AT&T picked up steam. Enterprise Networking Planet takes a look at what Juniper's recent success means for the networking equipment industry as a whole in 2010.
For nearly every sector of the economy, 2009 was a challenging year. It proved no exception for networking vendor Juniper Networks (NYSE: JNPR), though its fourth-quarter results showed promise with revenues the on the rise.
Part of Juniper's growth comes from resurgent demand from service providers like AT&T, who are continuing to build out their network to meet the increasing demands of new services and mobile devices like the iPhone.
"Our fourth-quarter performance not only represented quarter-on-quarter growth but also year-on-year growth," Juniper CEO Kevin Johnson said during the company's earnings call. "The results for the fourth quarter and the year as a whole reinforce a few key points. First, they provide good indication that the macro environment continues to improve. While it remains too early to predict the pace and trajectory of recovery, particularly by geography, weve come a long way from the economic uncertainty we were facing at this time just a year ago."
Juniper reported fourth-quarter 2009 revenue of $941.5 million, up by 2 percent on a year-over-year basis. Wall Street had expected revenue to come in at $884.8 million, according to Thomson Reuters.