Juniper Networks reported preliminary financial results for the three months and twelve months ended December 31, 20156.
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Net revenues for the fourth quarter of 2015 were $1,319.6 million, an increase of 20% year-over-year and 6% sequentially.
Juniper's operating margin for the fourth quarter of 2015 increased to 21.2% on a GAAP basis, from 20.7% in the third quarter of 2015, and increased from (63.7%) in the fourth quarter of 2014.
Excluding the non-cash goodwill impairment charge related to its security reporting unit, the GAAP operating margin for the fourth quarter of 2014 would have been 13.5%.
Non-GAAP operating margin for the fourth quarter of 2015 increased to 26.0% from 25.5% in the third quarter of 2015, an increase of 4.1 points year-over-year and 0.5 points sequentially.
Juniper posted GAAP net income of $197.8 million, consistent with the third quarter, and increased significantly compared to a GAAP net loss of $769.6 million for the fourth quarter of the prior fiscal year, even when adjusted for the $850 million non-cash goodwill impairment charge taken in the fourth quarter of 2014.
GAAP net income per diluted share was $0.51, inclusive of a $0.03 benefit due to the renewal of the R&D tax credit for 2015.
Non-GAAP net income was $247.6 million, or $0.63 per diluted share for the fourth quarter of 2015, a strong increase of 38% year-over-year and an increase of 12% sequentially.
For the year ended December 31, 2015, Juniper's net revenues were $4,857.8 million, an increase of 5.0% year-over-year as reported, or 7.0% adjusted for the sale of Junos Pulse in 2014.
For fiscal year 2015, Juniper's GAAP operating margin increased to 18.8%, compared to (9.1%) for the prior fiscal year. Excluding the non-cash goodwill impairment charge, the GAAP operating margin for fiscal year 2014 would have been 9.3%.
Non-GAAP operating margin for fiscal year 2015 was 24.0%, compared to 20.7% in fiscal year 2014.
For the year ended December 31, 2015, Juniper posted GAAP net income of $633.7 million, or $1.59 per diluted share. Non-GAAP net income was $2.03 per diluted share for fiscal year 2015, an increase of 40% year-over-year. ■