Networking Companies See Volatility Late Thursday On Revenues

Networking companies experienced volatility late Thursday.  Traders will want to watch for very heavy volume in the Networking Sector on Friday.

Juniper Networks, Inc. JNPR and Procera Networks Inc. PKT both warned that revenue will be lower than expected while Barracuda Networks Inc. CUDA reported record gross billings, up 18 percent YoY for 2Q FY2015.

Juniper Networks, Inc.

According to a press release, Juniper’s “revenue for the third quarter of 2014 is now expected to be in the range of $1,110 million to $1,120 million, below the Company's previous guidance of $1,150 million to $1,200 million, primarily due to lower-than-anticipated demand from service providers, particularly in the U.S.”

Juniper also lowered the estimates range for “non-GAAP net income per diluted share of $0.34 to $0.36, compared to the Company's previous guidance of $0.35 to $0.40 per diluted share.”

Procera Networks Inc.

Revenue for the third quarter of 2014 is now expected to be approximately $16 million, a year-over-year quarterly revenue decline of approximately 25 pecent. 

Revenue for the fiscal year ending December 31, 2014 is expected to be in the range of $70 million to $75 million, compared with $74.7 million for the year ended December 31, 2013.

“Our second half of 2014 revenue performance is expected to be below the company's plans because of large opportunities not closing as quickly as originally anticipated,” according to James Brear, President and CEO of Procera Networks.

Barracuda Networks Inc.

“We are pleased to report another quarter of strong performance on both our top and bottom line," said BJ Jenkins, President and CEO of Barracuda Networks.

Gross billings grew 18 percent to $89.0 million for the second quarter fiscal year 2015, up from $75.6 million in the second quarter of fiscal 2014.  Total revenue increased 19 percent to $68.7 million, up from $57.8 million in the second quarter of fiscal 2014.

Juniper Networks, Inc. traded after-hours at $20.94, down 1.23 percent.

Procera Networks Inc. traded after-hours at 6.60, down 22.81 percent.

Barracuda Networks Inc. traded at $26.75 after-hours, up 0.41 percent.