Cisco reported record second quarter net sales of $11.5 billion, net income (GAAP) of $2.2 billion or $0.40 per share, and non-GAAP net income of $2.6 billion or $0.47 per share for the quarter ending 28-January-2012.
The company said its is benefiting from strategic restructuring undertaken last year and gaining market share as it captures a greater percentage of IT spending.
“We delivered strong performance this quarter with record revenue and earnings per share,” said John Chambers, Cisco chairman and CEO. “We are executing well on our three-year plan to drive earnings faster than revenue. Our operational focus continues to yield positive results — we hit our billion dollar expense reduction a quarter early — and our ongoing innovation enables our customers to solve their critical business needs. You will continue to see a focused and aggressive Cisco that is helping our customers use intelligent networks to transform their businesses.”
Some highlights from the quarter:
Employee headcount at the end of the quarter was 63,870 — up by about 400 employees over the previous quarter.
Cash flows from operations were $3.1 billion for the second quarter of fiscal 2012, compared with $2.3 billion for the first quarter of fiscal 2012, and compared with $2.6 billion for the second quarter of fiscal 2011.
Cash and cash equivalents and investments were $46.7 billion at the end of the second quarter of fiscal 2012, compared with $44.4 billion
Now that restructuring is behind it, Cisco expects to be more active with mergers & acquisitions this year.
Guidance for the coming quarter call for growth of 5%-7%.
http://www.cisco.com
