Net revenues for the third quarter were $201.7 million, compared with $201.2 million for the same period last year. Pro forma net income was $32.5 million or $0.10 per share, compared with pro forma net income of $60.3 million or $0.17 per share for the third quarter of 2000.
Actual net loss for the third quarter, which includes amortization of goodwill and other purchased intangibles of $12.1 million, amortization of deferred compensation of $15.9 million, a charge to contract manufacturers of $39.9 million and impairment write-downs in equity investments totaling $11.0 million, was $29.7 million or $0.09 per share, compared with net income of $58.1 million or $0.17 per share in the third quarter of 2000.
Net revenues for the first nine months of 2001 were $736.0 million, up 95%, compared with $378.1 million for the same nine month period in 2000. Pro forma net income for the first nine months of 2001 was $154.0 million or $0.45 per share, compared with pro forma net income of $99.4 million or $0.29 per share during the same nine month period in 2000. Actual net loss for the first nine months of 2001 was $8.3 million or $0.03 per share, compared with actual net income of $85.8 million or $0.25 per share during the same nine month period in 2000.
In addition, the Board of Directors authorized a stock repurchase program of up to $200 million over the next two years, effective immediately.
The ability to deliver a strong bottom line in difficult times is strategic, said Scott Kriens, Chairman and CEO of Juniper Networks. Our focus on financial fundamentals enables us to fund and extend our product and technology advantages in support of our long-term vision of building the new public network, Kriens said.
SOURCE: COMPANY PRESS RELEASE
