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Biz Break: Juniper Networks CEO leaves, conduct questioned
2014-11-10 23:45:53| Telecom - Topix.net
Today: Juniper Networks makes its second sudden and mysterious CEO change in a year, dumping Shaygan Kheradpir for longtime employee Rami Rahim. Almost exactly a year after announcing Shaygan Kheradpir as its new leader, Juniper Networks said Monday that the CEO resigned amid a disagreement about his conduct in dealings with an unnamed customer.
Tags: break
networks
conduct
biz
Juniper Networks replaces CEO
2014-11-10 22:38:00| Telecompaper Headlines
(Telecompaper) Juniper Networks has appointed Rami Rahim as chief executive officer, effective immediately. Rahim, a seventeen-year Juniper Networks veteran, previously served as executive vice president and general manager, Juniper Development and Innovation. Shaygan Kheradpir has resigned as chief executive officer and director of the company. His resignation follows a review of the board of directors of his leadership and his conduct in connection with a particular negotiation with a customer. The board and Kheradpir have different perspectives regarding these matters.
Tags: networks
ceo
replaces
juniper
Juniper Networks plans more cost reductions on weak demand
2014-10-24 08:29:00| Telecompaper Headlines
(Telecompaper) Juniper Networks announced plans for additional cost reductions after lower-than-expected results in Q3. Amid falling demand from service providers, the company's quarterly revenues decreased 5 percent year-over-year and 8 percent sequentially to USD 1.126 billion. The operating margin improved to 15.3 percent from 12.2 a year ago, helped by a USD 15 million benefit from restructuring and other charges. Net profit also benefited from the one-time items, rising to USD 103.6 million from USD 99.1 million a year ago. Adjusted EPS of USD 0.36 was up 9 percent year-on-year and fell 10 percent compared to the second quarter of 2014. CEO Shaygan Kheradpir said the company was disappointed with the results, which reflect weaker demand particularly in the US. The company announced additional cost reductions of USD 100 million, and increased its total annualized commitment to USD 260 million, designed to lower operating expenses while improving profitability and long-term growth. The cost reductions will include a "careful management of headcount, focus on improved efficiencies and prioritization of revenue-generating projects", Juniper said. Looking ahead, the group expects the revenue environment to be "challenging". It forecast fourth-quarter revenues of USD 1.025-1.075 billion, an adjusted operating margin around 18.5 percent and adjusted EPS of USD 0.28-0.32.
Tags: cost
plans
networks
demand
Juniper adjusts Q3 guidance on lower demand
2014-10-10 09:30:00| Telecompaper Headlines
(Telecompaper) Juniper Networks lowered its revenues guidance for the third quarter, saying it now expects revenues at USD 1.10-1.12 billion, from the 1.15-1.20 billion previously forecast. The company attributed the decline mainly to lower-than-anticipated demand from service providers, particularly in the US. Non-GAAP earnings per diluted share are now seen at USD 0.34-0.36, from the previous guidance of 0.35-0.40, with the decline softened by the company's continued focus on cost reduction initiatives and the benefit of reduced variable compensation for the quarter. Juniper will report Q3 results on 23 October.
Tags: lower
demand
guidance
adjusts
Technip wins EPIC contract for Juniper offshore gas project in Trinidad
2014-09-10 01:00:00| Offshore Technology
BP Trinidad and Tobago (BPTT) has awarded an engineering, procurement, installation and construction (EPIC) contract to Technip for the development of its Juniper offshore gas project.
Tags: project
contract
gas
wins
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