Juniper Networks Inc reported first-quarter profit of $91.4 million. Net income came in at 23 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 37 cents per share. That was 2 cents less than the average Wall Street estimate.
Revenues came in at $1.1 billion in the period, slightly short of estimates.
“While our results for the March quarter were disappointing, we remain constructive on the full year and encouraged by early customer feedback on our recently introduced new products,” said Rami Rahim, chief executive officer at Juniper Networks.
On the telephone conference call, Rahim blamed the sales on large carriers delaying purchases from Q1 to Q2. But he expressed confidence that those purchases would come through over the course of 2016.
With carrier purchases in a wait and see approach to evolving technologies, for manufacturers – like Juniper – primarily focused on the carrier market place, these are stressful times.