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Juniper Networks loss hitting Plexus

9:04 PM, Jul. 17, 2013  |  Comments
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Contract electronics manufacturer Plexus Corp. on Thursday reported third quarter earnings of $572 million, down from $609 million reported during the same quarter last year.

The company's third quarter revenues were up from the $558 million reported during its second quarter.

The company said it landed "28 new programs" in its manufacturing solutions group, which should generate $212 million in annual revenues when in full production.

Plexus in November announced it had lost one of its major customers, California-based Juniper Networks, a data equipment maker, which represented about 16 percent of the company's revenues. The company at the time said it would continue making product for Juniper the next six to nine months

The company projects its fourth quarter revenues to range between $545 million and $575 million, but expects revenues to be lower when compared to its third quarter.

The company said the loss of the Juniper contract likely will impact its first quarter earnings, but its sales outlook suggests revenue improvements by its second quarter next year based on customer forecasts.

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