Juniper Networks posts strong Q4 financials

Networking giant Juniper Networks has announced its fourth-quarter results, and gave an optimistic assessment that the company is moving clear of the recession.

Overall revenue for the year fell seven percent on 2008 to US$3.32bn (A$3.75bn), but the firm saw a two percent increase in its Q4 revenue compared with the same period last year to US$941.5m (A$1,06m).

Q4 net cash results rose from US$215.1m (A$243m) in 2008 to US$259.6m ($293m). Yearly figures were down from US$875.2m (A$990m) to US$796.1m (A$900m).

Juniper chief executive Kevin Johnson said that, despite the yearly decline, the results justified the company's commitment to investments in innovation, and that the company is well placed for the coming year.

"Juniper enters 2010 with improved financial results, and a clear strategic direction centred on innovation and expanded routes to market. We see improving conditions in 2010, and are positioning Juniper to accelerate out of the downturn," he said.

Robyn Denholm, Juniper's chief financial officer, added that the company had managed to stay on track throughout 2009, and that the Q4 results underlined strong progress.

"Revenue increased, we saw increased traction from our new products, and we managed expenses well. We remain committed to thoughtfully managing our cost structure, and enter 2010 with optimism," he said.

Juniper has already been busy this year, announcing a partnership with Polycom earlier this week to provide low-cost teleconferencing. Eyes will now turn to market leader Cisco as it prepares to announce its financial figures on 3 February.