Cisco Systems reported quarterly net sales $4.7 billion, compared with $4.8 billion for the same period last year and $4.6 billion in the preceding quarter. Net income was $982 million or $0.14 per share, compared with $772 million or $0.10 per share for the same quarter last year, and compared with $987 million or $0.14 per share in the preceding quarter. Some highlights:
- Solid sequential growth in high-end routing and switching. The company sold $200 million in high-end routers (GSRs) during the quarter. Mid-range and low-range were a little weaker than expected. Enterprise switching was strong. Cisco shipped its one millionth 10/100/1000 port during the quarter.
In service provider markets, Cisco said sequential orders were up in the mid single digits.
Advanced technology markets represented 17% of its product orders in the quarter. IP telephony sales were strong, with Cisco claiming to have shipped more IP phones than all other vendors combined. In storage networking, Cisco reduced prices an average of 30%. The optical business was the best it has been in the past two years.
US federal government sales were approximately 20% of total U.S. enterprise business.
$20.7 billion in cash on hand at the end of the quarter, compared with $20.3 billion at the end of the preceding quarter.
Geographical distribution of sales were U.S (47%), EMEA (32%), APAC (10%), Japan (7%), Americas (4%).
Guidance for the ongoing fiscal quarter includes slight revenue growth of 2 to 4% sequentially, and gross margins in the range of 67% to 69%.
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