Cisco registers full-year profits

Cisco has reported an increase in sales for the year but has posted a decrease in net profits.

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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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