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November 10, 2010

Cisco Q1 net sales up 21% to $11bn

Gross margin increases to $7bn

By CBR Staff Writer

Cisco has reported net sales of $11bn for the first quarter of fiscal 2010, an increase of 21% compared to $9.1bn for the same period last year.

Operating income for the quarter was $2.4bn, compared to $2.1bn for the first quarter of 2009.

For the first quarter ended 30 October 2010, gross margin increased to $7bn from $6bn for the same period last year.

The company has posted a net income of $1.9bn for the first quarter of 2010, an increase of 6% compared to $1.8bn for the same period last year.

Diluted earnings per share was $0.34, an increase of 13.3% compared to $0.30 for the same quarter previous year.

Cisco chairman and CEO John Chambers said the company has seen capital spending moderate in some areas of their business, their execution in the areas they can control and influence speak to the success and relevance of the company’s strategy.

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"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," Chambers said.

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