Juniper profits plunge in recession
By Jennifer Scott,
Juniper Networks has seen its profits plummet in its second quarter results.
Net income for the company was reported at $14.8 million, compared to $120 million for the same time last year.
Juniper did pay a one off tax charge of $52.1 million which dented income somewhat but, even with that taken out of the equation, income was still down by over $16 million compared to 2008.
Kevin Johnson, Juniper's chief executive officer, said in a statement: “We continue to take a disciplined approach to controlling operating expenses as we navigate this challenging economic period.”
Revenue for the second quarter hit $786.4 million which was up three per cent on the last quarter but down by 11 per cent compared to last year’s second quarter figures.
Juniper is still making positive moves as a business with the announcement last week that IBM will become an OEM for its switches and routers.
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