View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
August 5, 1997updated 03 Sep 2016 10:14pm

CISCO’S Q4 AND YEAR ARE RIGHT ON THE MONEY; STREAK CONTINUES

By CBR Staff Writer

Networking heavyweight Cisco Systems Inc reported numbers for the fourth-quarter and year that were perfectly in line with expectations. Pro-forma net income for the quarter surged 34% to $383.2m, or $0.55 per share, on revenue up 37% at $1.77bn. With the announcement, Cisco takes its highly-prized streak of consecutive revenue and earnings growth to 30 quarters. For the year, pro-forma net soared 53% to $1.41bn, or $2.05 per share, on revenue up 57% at $6.44bn. The results exclude merger-related charges of $290.6m for the quarter – stemming from the acquisitions of Ardent Communications Corp, Global Internet Software Group, Skystone Systems Corp – and $508.4m for the year, from those deals as well as the previously-closed purchases of Telebit Corp and Netsys Technologies Inc. Results also include one-time gains of $18m and $152.7m for the quarter and year, respectively, from the sale of a minority stock investment. Including all this activity, fourth-quarter net income fell 45% to $151m, while net income for the year rose 15% to $1.05bn. Earnings per share fell 46% to $0.22 for the quarter, and rose 11% to $1.52 for the year. The company assures us that it is making outstanding progress in all three of its key markets – Enterprise, Service Provider and Small/Medium Business – and Wall Street expects the streak of improved earnings to continue. First Call is looking for earnings of $0.59 next quarter and $2.61 by the end of the fiscal year.

Content from our partners
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape
Green for go: Transforming trade in the UK

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU