Cisco (CSCO) Reports 12% Decline in Q4 Profit, Sales Rise 3%
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Price: $108.75 -0.9%
Revenue Growth %: +21.6%
Financial Fact:
OPERATING INCOME: 2.88B
Today's EPS Names:
RCBC, GASS, YSG, More
Revenue Growth %: +21.6%
Financial Fact:
OPERATING INCOME: 2.88B
Today's EPS Names:
RCBC, GASS, YSG, More
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Shares of Cisco (Nasdaq: CSCO) are edging modestly higher in post-market trade Wednesday following the company's fourth-quarter 2011 earnings report.
For the quarter ended July 30, 2011, Cisco posted net revenue of $11.2 billion, up 3.3 percent from the $10.8 billion reported during the same quarter last year. Sequentially, Cisco's sales rose 3 percent.
Net income fell a sharp 12.4 percent from $2.5 billion in the year-ago quarter to $2.2 billion. Earnings per share totaled 40 cents, down about 7 percent from the 43 cents reported during the fourth quarter of 2010. Earnings were up about 21 percent from 33 cents during the third quarter of 2011.
The Street had been looking for Cisco to post quarterly sales of $10.97 billion and a profit of 38 cents per share.
Cisco's Chairman and CEO John Chambers said, "We've made significant progress on our comprehensive action plan to position ourselves for our next stage of growth and profitability, while delivering solid financial results in Q4. As we start our next fiscal year, you will see a very focused, agile, lean and aggressive company, that is laser focused on helping our customers use intelligent networks to transform their businesses."
Cash flow from operations came to $2.8 billion during the fourth quarter, down from $3 billion in the third quarter and $3.2 billion in the year-ago quarter.
On its conference call, Cisco said it expects sales next quarter (Q1) to rise 1 to 4 percent from the same quarter last year.
For the quarter ended July 30, 2011, Cisco posted net revenue of $11.2 billion, up 3.3 percent from the $10.8 billion reported during the same quarter last year. Sequentially, Cisco's sales rose 3 percent.
Net income fell a sharp 12.4 percent from $2.5 billion in the year-ago quarter to $2.2 billion. Earnings per share totaled 40 cents, down about 7 percent from the 43 cents reported during the fourth quarter of 2010. Earnings were up about 21 percent from 33 cents during the third quarter of 2011.
The Street had been looking for Cisco to post quarterly sales of $10.97 billion and a profit of 38 cents per share.
Cisco's Chairman and CEO John Chambers said, "We've made significant progress on our comprehensive action plan to position ourselves for our next stage of growth and profitability, while delivering solid financial results in Q4. As we start our next fiscal year, you will see a very focused, agile, lean and aggressive company, that is laser focused on helping our customers use intelligent networks to transform their businesses."
Cash flow from operations came to $2.8 billion during the fourth quarter, down from $3 billion in the third quarter and $3.2 billion in the year-ago quarter.
On its conference call, Cisco said it expects sales next quarter (Q1) to rise 1 to 4 percent from the same quarter last year.
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