Cisco Reports First Quarter Earnings

November 11, 2010 by | Comments

November 10, 2010 – Cisco, the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its first quarter results for the period ended October 30, 2010. Cisco reported first quarter net sales of $10.75 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.9 billion or $0.34 per share, and non-GAAP net income of $2.4 billion or $0.42 per share.

“Cisco delivered solid financial results, during a challenging economic environment. While we have seen capital spending moderate in some areas of our business, our execution in the areas we can control and influence speak to the success and relevance of the company’s strategy,” said John Chambers, chairman and CEO, Cisco. “Our position in the market, including continued product innovation, market share momentum and operational excellence, positions us for growth and flexibility well into the future as we strengthen our role as a trusted business partner to our customers.”

GAAP Results

Q1 2011 Q1 2010 Vs. Q1 2010
Net Sales $10.75 billion $9.02 billion 19.2%
Net Income $1.9 billion $1.8 billion 8.0%
Earnings per Share $0.34 $0.30 13.3%

Non-GAAP Results

Q1 2011 Q1 2010 Vs. Q1 2010
Net Income $2.4 billion $2.1 billion 13.9%
Earnings per Share $0.42 $0.36 16.7%

A reconciliation between net income on a GAAP basis and non-GAAP net income is provided in the table on page 6.

Cisco will discuss first quarter results and business outlook on a conference call and webcast at 1:30 p.m. Pacific Time today. Call information and related charts are available at http://investor.cisco.com.

–(News@Cisco: Press Releases and Features)–

Enjoyed it? Share it!

Digg facebook delicious live
google linkedin myspace reddit
stumble technorati twitter Yahoo
This page is archived in:

- Feeds - Financial - News 

Tags: cisco
Stay Tuned...
RSS
RSS
e-Mail