Juniper results demonstrate meteoric growth

NEWS The company posted annual turnover of $673.5m as compared to $102m for 1999. Net profits were $184m compared to a loss last year of $4.7m. The company is projecting 2001 turnover of $1.5bn to $1.6bn, with gross profit margins just over 60 per cent. But Marcel Gani, CFO of Juniper, warned in a statement: "Revenue will be lumpy this year." Juniper makes top-end routers used for the internet and its products are claimed to be considerably faster and more efficient than the current Cisco high-end offering. Other products are in the pipeline. Cisco currently holds 90 per cent of this market. The five-year-old start up was backed in 1998 by a collections of venture capitalists and a long list of telecoms companies including 3Com, AT&T, Ericsson, Lucent, Newbridge Networks, Northern Telecom, Siemens, Qwest Communications and UUNet.