WASHINGTON (dpa-AFX) - Juniper Networks, Inc. (JNPR) reported net income for the second quarter of $221.1 million or $0.46 per share, compared to $97.9 million or $0.19 per share for the year-ago quarter.
Excluding items, adjusted net income for the second quarter was $190.3 million or $0.40 per share, compared to $148.1 million or $0.29 per share in the prior year quarter.
Net revenues for the second quarter rose 7% to $1.23 billion from $1.15 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.38 per share on revenue of $1.22 billion for the second quarter. Analysts' estimates typically exclude special items.
Juniper Networks also said that it has agreed to sell its Junos Pulse product portfolio to private equity firm Siris Capital for about $250 million.
Additionally, the company said it has initiated a quarterly cash dividend of $0.10 per share. This is the company's first cash dividend in history. It will be payable on September 23 to shareholders of record on September 2.
Looking forward to the third quarter, the company forecasts revenue of $1.15 billion to $1.20 billion and adjusted earnings of $0.35 to $0.40 per share. Analysts currently expect the company to earn $0.44 per share on revenue of $1.26 billion for the third quarter.
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