Cisco posted sales of $11.3 billion for its first fiscal quarter ended October 29, 2011, with net income (GAAP) of $1.8 billion or $0.33 per share, and non-GAAP net income of $2.3 billion or $0.43 per share.
“We delivered a solid quarter,” said John Chambers, Cisco Chairman and CEO. “We’ve completed the majority of our restructuring and have organized Cisco to successfully execute against our strategy of providing intelligent networks, architectures and integrated products that solve customers’ business problems. Even in times of limited capital spending, intelligent networks are being deployed to drive new business, revenue and consumption models, enable new customer and employee experiences, and drive efficiencies. Cisco’s leadership in networking, video, collaboration and cloud, offered together in an integrated architectural approach, uniquely positions Cisco as a strategic business partner.”
Some notes from the conference call:
Cisco has now completed the majority of its restructuring.
High-end routing equipment orders were up 11%.
Looking at revenue growth YoY by customer segment:
Enterprise was +11%
Public Sector was +10%
Commercial was +12%
Service Provider was +16%
For Q2, Cisco is predicting 7-8% growth YoY but warns investors not to let expectations to get ahead of market conditions. The company sees minimal impact from flooding in Thailand. EPS is expected to $0.42 to $0.44.
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