Juniper Networks, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total net revenues of $1,385.6 million against $1,319.6 million for the same period a year ago. Operating income was $298 million against $279.1 million for the same period a year ago. Income before income taxes was $282.9 million against $260.6 million for the same period a year ago. Net income was $197.4 million or $0.51 per diluted share $197.8 million or $0.51 per diluted share for the same period a year ago. Non-GAAP operating income was $366.6 million against $342.7 million for the same period a year ago. Non-GAAP net income was $254.3 million or $0.66 per diluted share against $247.6 million or $0.63 per diluted share for the same period a year ago. Net cash flows provided by operations for the fourth quarter of 2016 was $334 million, compared to net cash flows provided by operations of $245 million in the third quarter of 2016, and $117 million in the fourth quarter of 2015. Capital expenditures were $52 million.

For the year, the company reported total net revenues of $4,990.1 million against $4,857.8 million for the same period a year ago. Operating income was $900.5 million against $912.0 million for the same period a year ago. Income before income taxes was $838.2 million against $852.2 million for the same period a year ago. Net income was $601.2 million or $1.55 per diluted share against $633.7 million or $1.59 per diluted share for the same period a year ago. Non-GAAP operating income was $1,167.1 million against $1,165.7 million for the same period a year ago. Non-GAAP net income was $810.1 million or $2.09 per diluted share against $809.7 million or $2.03 per diluted share for the same period a year ago. Net cash provided by operating activities was $1,106.0 million against $892.5 million for the same period a year ago. Purchases of property and equipment were $214.7 million against $210.3 million for the same period a year ago.

For the quarter ending March 31, 2017, revenues will be approximately $1,200 million, plus or minus $30 million, non-GAAP gross margin will be approximately 62.5%, plus or minus 0.5%, non-GAAP operating margin will be approximately 19.5% at the midpoint of revenue guidance, non-GAAP tax rate approximately flat from the fourth quarter and non-GAAP net income per share will range between $0.38 and $0.44 on a diluted basis. This assumes a flat share count from the fourth quarter.

For the year 2017, the company expects revenue growth. The company intends to expand non-GAAP operating margins and non-GAAP earnings per share for fiscal year 2017. The company expects continued strong cash flow generation and intends to return on approximately 50% of free cash flow to shareholders. The gross margin guidance for the quarter reflects typical seasonal patterns, primarily due to sequentially lower revenue volume.