Cisco reported third quarter net sales of $12.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.5 billion or $0.46 per share, and non-GAAP net income of $2.7 billion or $0.51 per share.
"Cisco is executing at a very high level in a slow, but steady economic environment. We are especially pleased with our ninth consecutive record revenue quarter. We are starting to see some good signs in the US and other parts of the world which are encouraging," stated Cisco Chairman and CEO John Chambers. "We have the right products, the right solutions and our customers are coming to us to solve their biggest business problems. The pace of change is increasing and Cisco is well positioned."
Some highlights for the quarter:
- Ninth consecutive quarter of record revenue and non-GAAP net income.
- Hottest areas: cloud data center sales were up 77%, wireless up 27, Service Provider Wi-Fi- up >100%, SP video up 30%
- John Chambers said the company is planning for slow, steady recovery in the U.S. and elsewhere.
- Regionally: Americas grew 7%, EMEA was flat at 0%, APC was 1%
- By customer segment: Enterprise sales grew 3%, Public sector grew 1%, Commercial were up 3% and Service Provider sales grew 8%
- The book-to-bill ratio is approximately 1.
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