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Networking solutions provider Juniper Networks reported a three-percent net revenue increase in the second quarter of this year, compared to 1Q, 2009. Figures the company released Friday, however, represented an 11 percent drop from net revenue generated in 2Q of the previous year.
“With service provider sales relatively flat quarter-over-quarter, our sequential revenue increase was supported by double-digit quarter-over-quarter growth in the enterprise market,” Juniper CEO Kevin Johnson said in a statement.
Juniper generated $786.4 million of revenue in the second quarter, up from $764.2 million in 2Q. It posted GAAP net income of about $14.8 million, or $0.03 per diluted share. Its GAAP net income was about $120.4 million one year ago.
The company’s 2Q operating margins increased to 12.2 percent from 10.6 percent in 1Q. Its capital expenditures during the quarter were $45.2 million, while depreciation and amortization expenses came to $37.8 million.
As of June 30 (end of 2Q) Juniper’s total assets were worth about $7.23 billion, up from about $7.19 billion at the end of December, 2008.
Juniper made headlines earlier this week after IBM announced that it had made an OEM (original equipment manufacturing) agreement to sell several Juniper EX and MX series switches and routers.
In the same announcement, IBM said it had also expanded its standing relationship with Cisco, one of Juniper’s chief rivals. Under the new agreement, IBM will enable its Systems and Technology Group sellers to resell Cisco’s new Nexus 5000 series switches.
Also that day IBM announced a launch of two products manufactured by yet another major player in the networking gear space – Brocade. The IBM Converged Switch 32 and 10 Gb Converged Network Adapter for IBM System x expanded the company’s standing OEM with Brocade.
Keywords: Juniper Networks, 2Q earnings, Q2 earnings, network switch, IBM, Cisco, Brocade | | 
