SUNNYVALE, Calif. - Juniper Networks Inc., the maker of networking equipment, Thursday reported a 40 per cent increase in earnings for the second quarter, helped by a new product line.
Juniper had net income US$120.4 million, 22 cents per share, up from $86.2 million, or 15 cents per share, in the same period a year ago.
Excluding stock-based compensation, amortization and other items, Juniper earned $156.6 million, or 28 cents per share.
Analysts polled by Thomson Financial expected income of 27 cents per share.
Revenue was $879 million, up 32 per cent from $664.9 million in the same quarter a year ago. Analysts forecast $852.2 million in revenue.
Chief executive and chairman Scott Kriens said the results were in part a result of "the expanded opportunities made possible by the early success of the EX-series" of recently released Ethernet switches.
Earlier Thursday, Juniper said Kevin Johnson, the Microsoft Corp. executive in charge of the company's Windows and Web operations, would replace Kriens as chief executive. Kriens will remain as chairman.
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