Juniper Reports 2014 Revenue of $4.63 Billion
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For the fourth quarter, Juniper reported revenue of $1.10 billion, a 14 percent year-over-year decline. For the full fiscal 2014 year, revenue came in at $4.63 billion for a one percent year-over-year decline.
The big line item for Juniper, however, is the $850 million charge for Juniper's security business. Robyn Denholm, Juniper's CFO, noted during her company's earnings call that as required under GAAP accounting rules, Juniper is required to perform a regular review of the carrying value of goodwill.
"During Q4, this review resulted in an estimated non-cash impairment charge of $850 million related to the goodwill of our security reporting unit," Denholm said. "There are several factors which contributed to this impairment, including the recent underperformance of this reporting unit and our assets to refocus our security offerings, in addition to the divestitures of Junos Pulse."