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August 4, 2009

Cisco Q4 revenue down 18%

Profit declines 46% to $1.1 billion

By CBR Staff Writer

Cisco has reported revenue of $8.5 billion for the fourth quarter of fiscal 2009, a decrease of 18% compared to $10.4 billion in the same quarter of 2008. Revenue for fiscal 2009 was $36.1 billion, a decline of 8.7% compared to $39.5 billion in prior year.

For the quarter, the company reported a net profit of $1.1 billion, a decline of 46.3% compared to $2 billion in the same quarter of 2008. For fiscal 2009, net profit was $ 6.1 billion, a decrease of 23.8% compared to $8.1 billion in the previous year.

During the fourth quarter, Cisco has launched its Smart+Connected Communities, a business initiative incubated from the Globalisation Centre East in Bangalore, India, which aims to provide a network-enabled blueprint for cities that run on networked information.

John Chambers, chairman and chief executive officer of Cisco, said: We are confident in our strategic position in both existing and thirty adjacent markets. We saw a number of positive signs this quarter in the economy and in our business, especially comparing our sequential quarter-over-quarter order trends.

“If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in Q4.

Frank Calderoni, chief financial officer of Cisco, said: “Today’s results validate that our business strategy and disciplined expense management enabled continued profitability in a tough worldwide economic environment. Our strategy and execution in operational excellence, our strong financial position as evidenced by $35 billion in cash and investments, and our continued focus on innovation are delivering results.

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