Juniper Doubles Sales in Q1

Juniper Networks predicted continued growth Tuesday as the company grew both income and revenue for its first quarter, beating analysts' earnings expectations by a penny.

"Part of the reason for the confidence we have in all this is that we see the growth across product lines, across industry segments and across geographies," said Scott Kriens, chairman and CEO of Sunnyvale, Calif.-based Juniper during a conference call.

Kriens credited Juniper's performance across both networking and security products for the company's "solid" first-quarter results.

For the quarter ended March 31, the networking and security vendor reported earnings of $75.4 million, or 13 cents per share, compared to earnings of $33.5 million, or 8 cents per share, the same quarter a year ago.

The Cisco Systems rival reported adjusted earnings of $91.9 million, or 16 cents per share, compared to $36.4 million, or 8 cents per share, a year ago.

Financial analysts expected the vendor to report adjusted earnings of 15 cents per share, according to Thomson Financial/First Call.

Revenue for the quarter doubled to $449.1 million, up from $224.1 million a year ago.

Revenue included $304.1 million in infrastructure product sales and $88.1 million in security product sales. Figures for Juniper's security product sales included approximately $1 million sales of Juniper's J-series enterprise routers, said CFO Robert Dykes.

For the second quarter, the company is forecasting revenue of $470 to $475 million and adjusted earnings of approximately 17 cents per share. For the same quarter a year ago, Juniper reported revenue of $306.9 million on adjusted earnings of 8 cents per share.