Juniper Networks delivered strong fourth quarter results, but its outlook was a bit lighter than expected. The company said it has a bevy of products on tap for 2011.
Juniper reported fourth quarter earnings of $190.2 million, or 35 cents a share, on revenue of $1.19 billion. Non-GAAP earnings were 42 cents a share. Wall Street was expecting Juniper to report earnings of 37 cents a share on revenue of $1.12 billion.
For 2010, the company reported earnings of $618.4 million, or $1.15 a share, on revenue of $4.09 billion.
The company's outlook was also strong. For the first quarter ended March 31, Juniper projected non-GAAP earnings will be between 30 cents a share to 33 cents a share. Revenue is expected to be $1.06 billion to $1.1 billion. Wall Street was expecting earnings of 34 cents a share on revenue of $1.09 billion.
Juniper said its first quarter expenses will be higher as a percentage of revenue. "2011 is an important next step as we prepare to introduce innovative new products that continue to deliver on the promise of the new network," said Juniper CEO Kevin Johnson in a statement.