Net income up 62.6% on year ago quarter
Cisco has reported net sales of $10.4bn for the third quarter of 2010, an increase of 27% compared to $8.2bn for the same period last year.
The company posted an operating income of $2.35bn for the third quarter of fiscal 2010, compared to $1.61bn for the same period last year.
For the quarter ended March 01, 2010, the company reported a net income of $2.2bn, an increase of 62.6% compared to $1.3bn for the same period a year ago. Diluted earnings per share was $0.37, an increase of 60.9% compared to $0.23 for the corresponding period last year.
Cash flows from operations were $3bn for the third quarter of fiscal 2010, an increase of 49% year over year. Cash and cash equivalents and investments were $39.1bn, compared to $35.0bn.
John Chambers, chairman and CEO of Cisco, said: “We emerge from this downturn gaining market share, a larger share of the total wallet spend of our customers, dramatically improved customer relations as a trusted technology and business partner, and having next-generation products in almost every product category.
Our innovation and operational engines are exceeding our expectations. This applies to products, organisation structures, business models, and movements into 30+ new market adjacencies. From almost every measurement perspective – revenues, earnings per share, new products, successful acquisitions, internal startups – our results in Q3 were the proof points that our strategy is working and was probably the strongest quarter in our history.