Thursday, 8 May 2008

Cisco Systems Reports Q3 Fiscal Year 2008

Cisco reported its third quarter results for the period ended April 26, 2008. Cisco reported third quarter net sales of USD9.8 billion, net income on a generally accepted accounting principles (GAAP) basis of USD1.8 billion or USD0.29 per share, and non-GAAP net income of USD2.3 billion or USD0.38 per share.

"We believe that our steady performance is based on Cisco's unique balance across business and technology architectures and our continued focus on execution against our long-term strategy," said John Chambers, chairman and CEO, Cisco.

Chambers continued that the network is a strategic asset to optimize productivity and to enable collaboration in the second phase of the Internet. He adds, the network is helping Cisco enter new and adjacent markets.

On the other hand, Cisco net sales for the first nine months of fiscal 2008 were USD29.2 billion, compared with USD25.5 billion for the first nine months of fiscal 2007. Net income for the first nine months of fiscal 2008, on a GAAP basis, was USD6.0 billion or USD0.97 per share, compared with USD5.4 billion or USD0.86 per share for the first nine months of fiscal 2007.

Cisco non-GAAP net income for the first nine months of fiscal 2008 was USD7.2 billion or USD1.16 per share, compared with USD6.1 billion or USD0.98 per share for the first nine months of fiscal 2007.

"We are very pleased with our performance for the third quarter in which we delivered 10 percent year-over-year top-line growth," said Frank Calderoni, chief financial officer, Cisco.