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Juniper Flexes Its Muscles

Juniper Networks Inc. (Nasdaq: JNPR) is feeling more secure after buying NetScreen Technologies Inc. (Nasdaq: NSCN), as it reported a 43 percent revenue increase for its first quarter, ended March 31, 2004 (see Juniper/NetScreen Merger OK'd).

The company reported a GAAP profit of $33.5 million, or $0.08 per share, on revenues of $224.1 million. That compares with a profit of $3.7 million, or $0.01 per share, on revenues of $157.2 million for the first quarter of 2003 (see Juniper Increases Q1 Profits).

Netscreen also came up big. The network security specialist's revenues for the quarter were $93.5 million, compared with $58.3 million for last years corresponding quarter.

Moving forward, Juniper predicts revenues for the combined company will be between $705 million and $720 million for the second half of the year. Without purchase accounting rules, the combined guidance would be between $720 million and $735 million.

Now the work of merging the two companies begins, and about 100 jobs in areas such as finance and IT will be cut from the combined entity. Down the road, some new positions will be created in areas such as sales and marketing.

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