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SUNNYVALE, CA -- (Marketwire) -- 01/24/13 -- Juniper Networks (NYSE: JNPR)

Q4 2012:

•Revenue: $1,141 million, up 2% from Q3'12 and up 2% from Q4'11 •Operating Margin: 11.5% GAAP; 18.2% non-GAAP, up 1.3 pts Q/Q •GAAP Net Income Per Share: $0.19 diluted, includes $0.02 pre-tax impact from restructuring charges •Non-GAAP Net Income Per Share: $0.28 diluted, up from $0.22 diluted in Q3'12 and flat compared to Q4'11

Full Year 2012:

•Revenue: $4,365 million, down 2% from 2011 •Operating Margin: 7.1% GAAP; 15.6% non-GAAP •GAAP Net Income Per Share: $0.35 diluted, includes $0.17 pre-tax impact from restructuring charges •Non-GAAP Net Income Per Share: $0.85 diluted, down from $1.19 diluted in 2011

Juniper Networks (NYSE: JNPR), the industry leader in network innovation, today reported preliminary financial results for the three and twelve months ended December 31, 2012, and provided its outlook for the three months ending March 31, 2013.

Net revenues for the fourth quarter of 2012 increased 2% sequentially and on a year-over-year basis to $1,141 million.

Juniper's operating margin for the fourth quarter of 2012 increased to 11.5% on a GAAP basis from 3.8% in the third quarter of 2012, and decreased from 11.9% in the fourth quarter of 2011. Non-GAAP operating margin for the fourth quarter of 2012 increased to 18.2%, from 16.9% in the third quarter of 2012 and decreased from 18.6% in the fourth quarter of 2011.

The Company posted GAAP net income of $96 million, or $0.19 per diluted share for the fourth quarter of 2012. The GAAP diluted income per share includes a $0.02 pre-tax impact from restructuring charges. Non-GAAP net income was $145 million, or $0.28 per diluted share, for the fourth quarter of 2012. Non-GAAP net income per diluted share increased 27% compared to the third quarter of 2012 and was flat compared to the fourth quarter of 2011.

The fourth quarter of 2012 results include $11 million, or $0.02 per diluted share, in pre-tax restructuring-related charges. The Company has largely completed its announced headcount actions and has made significant progress on additional actions to reduce its cost structure.

During the fourth quarter, the Company completed the acquisition of Contrail Systems, for a total of $176 million in cash and equity. The total net cash outlay for the acquisition was $49 million. The remainder of the consideration was in the form of equity awards.

For the year ended December 31, 2012, Juniper's revenue decreased 2% on a year-over-year basis to $4,365 million.

For the fiscal year 2012, Juniper's GAAP operating margin was 7.1% compared to 13.9% for the prior fiscal year. Non-GAAP operating margin for the fiscal year 2012 was 15.6% compared to 20.6% in the fiscal year 2011.

For the year ended December 31, 2012, GAAP net income was $187 million, or $0.35 per diluted share. The GAAP diluted income per share includes a $0.17 pre-tax impact from restructuring charges. Non-GAAP net income was $450 million, or $0.85 per diluted share, for the fiscal year 2012. Non-GAAP net income per diluted share for the year ended December 31, 2012 decreased 29% on a year-over-year basis. The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Preliminary Net Revenue by Market table below.