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Cisco Reports Fourth Quarter and Fiscal Year 2010 Earnings

Tags: Cisco (NASDAQ:CSCO)

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Press release

  • Q4 Net Sales: $10.8 billion (increase of 27% year over year)
  • Q4 Net Income: $1.9 billion GAAP; $2.5 billion non-GAAP
  • Q4 Earnings per Share: $0.33 GAAP (increase of 74% year over year); $0.43 non-GAAP (increase of 39% year over year)
  • FY 2010 Net Sales: $40.0 billion (increase of 11% year over year)
  • FY 2010 Net Income: $7.8 billion GAAP; $9.4 billion non-GAAP
  • FY 2010 Earnings per Share: $1.33 GAAP (increase of 27% year over year); $1.61 non-GAAP (increase of 19% year over year)

SAN JOSE, Calif. - August 11, 2010 - Cisco, the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its fourth quarter and fiscal year results for the period ended July 31, 2010. Cisco reported fourth quarter net sales of $10.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.9 billion or $0.33 per share, and non-GAAP net income of $2.5 billion or $0.43 per share.

"This was yet another very strong quarter with a number of record financial results for Cisco, closing the fiscal year in a tremendous position of strength-a compelling financial model, a well-tuned innovation engine and solid execution on our growth strategy," said John Chambers, chairman and CEO, Cisco.

Chambers continued, "Whether the global economy continues to show mixed signals or not-the strength of our financial model and profit generation serves us well. As we to continue to successfully grow our business and share of IT investments, our focus is squarely on helping our customers accelerate productivity and growth. We are very confident in our strategy, and will continue to aggressively move into new areas where the network is becoming the platform, and where our customers want us to invest and innovate."