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Juniper Networks’ Q3 earnings fall 44%

Fri, 10/23/2009 - 8:30am
The Associated Press

SUNNYVALE, Calif. (AP) – Juniper Networks Inc., a maker of networking equipment, said Thursday that third-quarter earnings fell by 44 percent as revenue slipped.

The company earned $83.8 million, or 16 cents per share, compared with $148.5 million, or 27 cents, in the same quarter a year earlier.

Excluding one-time items, Juniper earned $122.5 million, or 23 cents per share, down from $175.6 million, or 32 cents, last year.

Revenue came to $823.9 million, down 13 percent from $947 million in 2008.

Juniper's performance beat the expectation of analysts, which were on average 21 cents per share for earnings and $799.5 million for revenue, according to Thomson Reuters. Analysts typically exclude one-time items in earnings estimates.

The company cautioned that macroeconomic conditions remain uncertain.

Shares of Sunnyvale, Calif.-based Juniper rose 39 cents to $28.61 in after-hours trading. The stock was up 40 cents to $28.22 during the regular session.

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