JNPR Conference Call Summary

JNPR Conference Call Summary

Juniper sees Q2 EPS at $0.20 in-line with $0.20 consensus; sees Q2 revs $640-650 mln vs. $646.88 mln consensus. Sees gross margins flat with Q1. Co saw good growth in the core due to T-series and TX where they recognized revenue on over 200 units(more than doubling vs prior Q). E-320 and M-120 revs grew at 35% and 90% respectively. Their MX 96 came to market didnt see significant revs but expect that to ramp in coming Qs. Inital customer response to MX 96 has been positive as well. On Enterprise business: firewall products saw good growth year-over-year and despite Q1 softness, saw growth quarter-over-quarter in integrated security products as the ISP 2000 which includes IDP functionality grew at almost 15% and SSG family which grew over 65% when compared to Q4 of last year. Co saw relatively flat performance in stand alone IDP and softness in SSL VPN and our application acceleration products quarter-over-quarter which is due to some substitution with our more integrated products and also Q1 seasonality which we would expect. Buyback seems to be going slowly, only $30 mln in Q1 of the $1 bln authorized. Co has retained search firms in both the CFO and General Management searches and have begun seeing candidates. Stock is trading at 20.35 After Hours.