Problems are still plaguing the network equipment industry, as Juniper Networks cuts ten per cent of its staff and a once highly-touted competitor shuts down.
Juniper posted a small second-quarter profit yesterday, but added that it would cut 10 per cent of its staff at the end of the month to reduce costs.
The company said that slashed overheads had achieved its profit, and that following the further cuts it would have 1,650 employees.
Actual net income for the second quarter was $6.2m, compared with a net loss of $37.1m in the corresponding quarter of 2001. Analysts welcomed the news, saying Juniper was taking positive steps.
"We enjoyed a healthy balance of revenue contribution last quarter, across both new and existing products, in many different sectors of the networking market," said Scott Kriens, chief executive of Juniper Networks.
Meanwhile, router startup Pluris, which raised $53m in its latest financing round in February this year, has closed its doors because of insufficient funding and ongoing troubles in the core router market.
Pluris, which burned through $215m during the past few years and recently let 165 employees go, has turned its assets over to business and financial solutions provider Sherwood Partners, which will sell them, according to reports.
Former chief executive Joe Kennedy, who was previously chairman and chief executive of Gigabit Ethernet switch provider Rapid City before it was acquired by Bay Networks, left Pluris in March.
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