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News > Companies
Juniper, the next Cisco?
September 20, 2000: 4:47 p.m. ET

Stock sizzles, firm said upbeat in competitive network industry
By Staff Writer Joseph Lee
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NEW YORK (CNNfn) - Some have referred to Juniper Networks as the next Cisco Systems, but Chief Executive Scott Kriens of the Sunnyvale, Calif.-based network equipment provider said the company has focused more "on being the first Juniper."

graphicJuniper Networks, which makes high-speed Internet backbone routers used to direct data along carrier networks, handily topped Wall Street expectations by 4 cents in the latest quarter, posting a 77 percent sequential increase in sales, due to rapid expansion and high demand for its Internet protocol (IP) network solutions.

Despite formidable competition from industry heavyweight Cisco (CSCO: Research, Estimates), Juniper's market share soared from 2.8 percent in 1998 to 14.8 percent in 1999 by recruiting high-profile customers like Verio Inc., which was recently acquired by Japan's telecom giant NTT Communications.

The company rolled out a new line of products on Tuesday -- two "purpose-built" routers to enhance network performance and speed -- which may take another swipe at the infrastructure market.

graphicKriens, who currently owns 6 percent of the company stock, told CNNfn's The N.E.W. Show that Juniper's new routing network technology will enable the company to reach beyond the core. [229KB WAV][229KB AIFF]

The stock finished Wednesday trading up $10.16, or 4.8 percent, at $220.06, near its 52-week high of $228.00 a share, despite a volatile trading session on Wall Street.

Shares of the Silicon Valley startup have nearly quadrupled this year after two stock splits.

Earlier this month, the Nasdaq stock market replaced VISX Inc. (EYE: Research, Estimates), a laser vision-correction system maker, with Juniper Networks (JNPR: Research, Estimates) stock in its Nasdaq-100 index. Back to top

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.