Cisco reports 79% rise in profit

Networks giant Cisco has reported strong fourth quarter 2010 results, with sales of $10.8bn, an increase of more than 28% compared to Q4 2009.

For...

Networks giant Cisco has reported strong fourth quarter 2010 results, with sales of $10.8bn, an increase of more than 28% compared to Q4 2009.

For the company's Q4 2010 period, which ended 31 July, the company's net income increased from $1.1bn to $1.9bn, compared to the same period in 2009, representing a rise in profit of 79%.

John Chambers, Cisco's chairman and CEO, said, "Whether the global economy continues to show mixed signals or not, the strength of our financial model and profit generation serves us well. As we continue to successfully grow our business and share of IT investments, our focus is squarely on helping our customers accelerate productivity and growth.

"We are very confident in our strategy, and will continue to aggressively move into new areas where the network is becoming the platform, and where our customers want us to invest and innovate."

The company has expanded its product family from networking and communications to consumer electronics with the Cius, its first foray into tablet devices. The Cius is designed to help business people collaborate.

Cisco has also been selected by the London Organising Committee of the Olympic Games and Paralympic Games to build a software-as-service platform for the London 2012 Olympics.

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