Juniper Networks(JNPR) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter 2024 net revenues were $1,404.1 million, representing a 3$162.0 million, a 30% year-over-year increase, resulting in diluted earnings per share of $0.48[4]. - Full-year 2024 net revenues were$5,073.6 million, a 9% year-over-year decrease[5]. - GAAP net income for the full year was $287.9 million, a 7$0.86[6]. - Total net revenues for Q4 2024 reached $1,404.1 million, a 2.7$1,364.8 million in Q4 2023[21]. - Product revenues were $870.2 million, up from$858.6 million year-over-year, while service revenues increased to $533.9 million from$506.2 million[21]. - Net income for Q4 2024 was $162.0 million, compared to$124.3 million in Q4 2023, representing a 30.3% increase[21]. - Net income for the twelve months ended December 31, 2024, was $287.9 million, a decrease of 7.4$310.2 million in 2023[45]. Margins and Expenses - Non-GAAP operating margin for the fourth quarter was 19.2%, up from 18.3% in Q4 2023[3]. - Operating income for the year was $291.8 million, down from$470.1 million in the previous year, indicating a decrease of 38%[21]. - Non-GAAP operating income for Q4 2024 was $268.9 million, compared to$250.2 million in Q4 2023, showing a growth of 7.1%[30]. - Research and development expenses for the year totaled $1,150.5 million, slightly up from$1,144.4 million in the previous year[21]. - Share-based compensation expense increased to $290.8 million in 2024 from$279.4 million in 2023, reflecting a rise of 4.8%[45]. Cash and Investments - Total cash, cash equivalents, and investments as of December 31, 2024, were $1,770.0 million, an increase from$1,324.3 million as of December 31, 2023[9]. - Cash and cash equivalents rose to $1,224.3 million in 2024, up from$1,068.1 million in 2023, representing a growth of 14.6%[43]. - Net cash provided by operating activities was $788.1 million for 2024, down from$872.8 million in 2023, indicating a decline of 9.7%[45]. Assets and Liabilities - Total assets increased to $10,008.0 million as of December 31, 2024, compared to$9,518.5 million in 2023, reflecting a growth of 5.1%[43]. - Total current liabilities increased to $2,642.0 million in 2024, compared to$2,104.0 million in 2023, marking a rise of 25.6%[43]. - Long-term debt decreased to $1,215.7 million in 2024 from$1,616.8 million in 2023, a reduction of 24.8%[43]. - Inventory levels decreased to $830.1 million in 2024 from$952.4 million in 2023, a decline of 12.8%[43]. - Total stockholders' equity increased to $4,784.2 million in 2024, up from$4,492.7 million in 2023, showing a growth of 6.5%[43]. - Deferred revenue increased to $1,228.4 million in 2024 from$1,130.0 million in 2023, representing an increase of 8.7%[43]. Strategic Initiatives - The company plans to pay a cash dividend of $0.22 per share on March 24, 2025[11]. - The proposed merger with Hewlett Packard Enterprise is valued at approximately$14 billion, with a cash transaction of $40.00 per share[2]. - The company will not provide financial guidance due to the pending acquisition by HPE[12]. Regional Performance - The Americas region generated$888.9 million in revenues for Q4 2024, up from $849.7 million in Q4 2023, marking a 4.3$368.1 million in Q4 2024 from $317.3 million in Q4 2023, a growth of 16.0$838.7 million, compared to $807.2 million in Q4 2023, reflecting improved operational efficiency[21].