Cisco reported record second quarter net sales of $8.4 billion, net income (GAAP) of $1.9 billion or $0.31 per share, and non-GAAP net income of $2.1 billion or $0.33 per share.
"Cisco achieved record results that were well balanced across our geographies, products, services, customer segments and new markets," said John Chambers, chairman and CEO, Cisco.
Some highlights:
- Cash flows from operations were $2.7 billion for the second quarter of fiscal 2007, compared with $1.9 billion for the second quarter of fiscal 2006, and compared with $2.3 billion for the first quarter of fiscal 2007
- Routing revenue was up 18% y/y at $1.67 billion
- Switching revenue was up 13% y/y at $3.01 billion
- Advanced technology revenue was up 23% y/y at $1.93 billion, led by storage, unified communications, wireless and security.
- Scientific Atlanta revenue was up 21% y/y
- Service revenue was up 20% y/y at $1.34 billion
- Q3 FY 07 revenue is forecast to be up 19-20% y/y
- Product gross margin was 64.8% while service gross margin was 64.4%
- US and Canada accounts for 51% of revenues, Europe for 23%, Emerging Markets for 12%, Asia-Pac for 10% and Japan for 4%.
- Enterprise revenue represents 45% of the business, Service Providers account for 25%, Commercial for 25% and Consumer for 4%.
- Cash and cash equivalents and investments were $20.7 billion at the end of the second quarter of fiscal 2007, compared with $17.8 billion at the end of the fourth quarter of fiscal 2006, and compared with $19.5 billion at the end of the first quarter of fiscal 2007.
- During the second quarter of fiscal 2007, Cisco repurchased 121 million shares of common stock at an average price of $27.01 per share for an aggregate purchase price of $3.3 billion.
- Cisco currently has 54,563 employees, compared to 39,665 a year ago.
