Juniper leads networking earnings
Juniper Networks had no trouble topping analysts' estimates in its second quarter Thursday, raking in $28.6 million, or 8 cents a share, on sales of $113 million.
First Call Corp. consensus pegged it for a profit of 4 cents a share in the quarter.
Juniper (Nasdaq: JNPR) shares closed up 17 9/16, or 12 percent, to a 52-week high of 169 1/2 ahead of the earnings report.
In the year-ago quarter, Juniper posted a loss of $2.9 million, or 3 cents a share, on sales of $17.6 million.
"As we continue towards the next milestone in building Juniper Networks into a franchise, we remain focused on relentless execution," said CEO Scott Kriens in a prepared release. "Our results this quarter are representative of the opportunity we see to build the global IP infrastructure."
Last quarter, Juniper also hurdled Street estimates, earning $10.5 million, or 6 cents a share, on sales of $63.9 million.
Its shares fell to a 52-week low of 20 5/16 last July. The stock split 2-for-1 in June.
Fifteen of the 16 analysts following the stock rate it either a "buy" or "strong buy."
Analysts expect Juniper to earn 14 cents a share in the fiscal year.
Among other networking companies reporting earnings Thursday:
First Call Corp. consensus expected it to earn 9 cents a share in the quarter.
Ahead of the earnings report, Paradyne shares closed up 3 7/16 to 43 1/8.
The $75.6 million in sales marks a 43 percent improvement from the year-ago quarter when it lost $475,000, or 2 cents a share, on sales of $52.2 million.
Analysts were expecting a loss of 26 cents a share in the quarter.
Its shares closed up 1 to 13 3/4 ahead of the earnings report.
The $9 million in sales was down slightly from the year-ago quarter when it lost $3.5 million, or 18 cents a share, on sales of $9.2 million.
"The quarter's behind us," said CEO Bill Sickler in a prepared release. "While we are disappointed with the results in the distribution channel, we are already moving to address issues in this area."
First Call Corp. consensus pegged it for a loss of 24 cents a share in the quarter.
In the year-ago quarter, it lost $9.1 million, or 23 cents a share, on sales of $1.1 million.
Sonus Networks shares closed off 9 15/16 to 191 13/16 ahead of the earnings report.