Cisco has reported an increase in sales for the year but
has posted a decrease in net profits.
For the year ended 29 July, sales were $28.5bn (£15.83bn)
compared with the $24.8bn last year. These sales included the $989m
contributed by Scientific-Atlanta, which Cisco acquired during the
year.
But net profits were $5.6bn, down from the $5.7bn last year. The
cost of employee stock options impacted on the company’s net
profits for the year.
When not taking account of stock options and other items, net
profits rose to $6.9bn from $6.1bn the previous year.
During the fourth quarter Cisco completed the acquisitions of
Audium Corporation and Metreos Corporation, and purchased selected
assets of OpGate.
Cisco chief executive officer John Chambers said, “We are
executing well and on target against our long-term strategy and our
vision of the network is enabling almost all forms of
communications and IT.”
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