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Juniper Networks, Inc. (JNPR)
Q4 2014 Results Earnings Conference Call
January 27, 2015 5:00 PM ET
Kathleen Nemeth - Investor Relations
Rami Rahim - Chief Executive Officer
Robyn Denholm - Chief Financial and Operations Officer
Pierre Ferragu - Sanford Bernstein
Ehud Gelblum - Citigroup
Simona Jankowski - Goldman Sachs
Ashwin Kesireddy - JPMorgan
Mark Sue - RBC Capital Markets
Tal Liani - Bank of America Merrill Lynch
Bill Choi - Janney
Amitabh Passi - UBS
Paul Silverstein - Cowen
Subu Subrahmanyan - The Juda Group
Brain Modoff - Deutsche Bank
Previous Statements by JNPR
» Juniper Networks' (JNPR) CEO Shaygan Kheradpir on Q3 2014 Results - Earnings Call Transcript
» Juniper Networks' (JNPR) CEO Shaygan Kheradpir on Q2 2014 Results - Earnings Call Transcript
» Juniper Networks' CEO Discusses Q1 2014 Results - Earnings Call Transcript
» Juniper Networks Management Discusses Q4 2013 Results - Earnings Call Transcript
As a reminder, this conference is being recorded. I would now like to turn the conference over to Ms. Kathleen Nemeth, Investor Relations for Juniper Networks. Thank you, Ms. Nemeth. You may now begin.
Thank you, Operator. Good afternoon. And welcome to our fourth quarter and fiscal year 2014 conference call. Joining me today are Rami Rahim, Chief Executive Officer; and Robyn Denholm, Chief Financial and Operations Officer.
Today's call may contain forward-looking statements, including statements concerning Juniper's business outlook, economic and market outlook, strategy, future financial operating results, capital return program, the expected amount of our impairment charge and overall future prospects.
Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements are listed in our most recent 10-Q and the press release furnished with our 8-K filed with the SEC today.
All statements made during this call are made only as of today. Juniper undertakes no obligation to update the information in this conference call in the event facts or circumstances change after the date of the call.
Our discussion of the financial results today will include non-GAAP results. Unless otherwise noted, revenue growth rates have been normalized for the sale of the Junos Pulse business.
For important commentary on why our management team considers non-GAAP information a useful view of the company's financial results, please consult the press release furnished with our 8-K filed with the SEC today.
Full GAAP to non-GAAP reconciliation information, our earnings release and the presentation slides for this call can be found on the Investor Relations section of our website at www.juniper.net.
Please note that today’s call is scheduled to last for one hour and please limit your questions to one per phone.
With that, I'll turn the call over to Rami.
Thanks, Kathleen, and welcome everyone. I am delighted to join you today on my first quarterly conference call as CEO of Juniper. First, let’s talk about what we have accomplished and what I see ahead.
2014 was a year of significant change for Juniper. We made major strides having implemented a series of initiative designed to streamline our organization, reduced our cost structure, improve our balance sheet, return capital to our shareholders and drive long-term profitable growth in a challenging revenue environment.
In many areas we exceeded our commitment by working in a more efficient manner with greater accountability and customer connectiveness. And while we achieved much in 2014, I recognize that there is still more we can do to realize the full potential of our company.
Rest assured, we are moving with urgency. We are very excited about the changes that are taking place in the industry and inside Juniper, and we believe that our best days are still ahead.
To that end, let me share with you what I have been up to in my first few months as CEO. I have spent considerable time talking and listening to our customers, our partners and our employees. Working with the senior leadership team, I set out key execution initiatives for 2015 aligned with our R&D and go-to-market strategy in the areas of routing, switching and security for both service providers and enterprise customers.
I appointed Jonathan Davidson as Head of Juniper’s Development and Innovation or JDI to ensure a smooth transition and uninterrupted focus on our product roadmap. Jonathan is an accomplished leader and technologist who knows how to bring focus and clarity to developing the innovative products our customers require.
I moved network automation project that have graduated out of the incubation phase from the office of the CTO to JDI to ensure tighter alignment with the rest of our portfolio and end-to-end solution development. And I oversaw a comprehensive review of the security components of our business including our capabilities and product roadmap.
While my new role at Juniper now has the added dimension of ensuring that our business performs across a range of metric, I will, as I always have try to ensure we build and deliver great products that advance the state-of-the-art and network innovation, and drive long-term growth for the company.
I’ll spend some time now articulating our strategy. How we plan to execute against our vision and our 2015 initiatives. First, our strategy, we will deliver the most scalable, reliable, secure and cost effective networks, while revolutionizing their agility, efficiency and value through automation.
We will focus on customers and partners across our key verticals, who view these network attributes as fundamental to their businesses. Product and solution differentiation with the relentless customer focus will allow us to achieve our primary goal of growing revenue faster than the market.
Second, on execution, our innovation engine is running stronger than ever and we are executing on a compelling product roadmap that will drive future growth across routing, switching and security. I'm very excited about our product pipeline, which has never been better and will offer our customers break through performance and impressive capabilities unmatched in the industry.