Net income grew by 43.5% to $2.2bn from $1.5bn in the same quarter a year ago
Network equipment provider Cisco has reported revenues of $11.5bn for the second quarter of fiscal 2012, an increase of 11% compared to $10.4bn in the corresponding quarter of fiscal 2011.
The company’s net income grew by 43.5% to $2.2bn from $1.5bn in the same period a year ago, primarily due to its efforts to reduce workforce and focus on profitable segments.
Earnings per share for the company increased 48.1% to $0.40 in the second quarter of fiscal 2012 from $0.27 in the same quarter of fiscal 2011.
Cisco chairman and CEO John Chambers said the company delivered strong performance this quarter with record revenue and earnings per share.
"We are executing well on our three-year plan to drive earnings faster than revenue. Our operational focus continues to yield positive results – we hit our billion dollar expense reduction a quarter early – and our ongoing innovation enables our customers to solve their critical business needs," Chambers said.
"You will continue to see a focused and aggressive Cisco that is helping our customers use intelligent networks to transform their businesses."
The company has also reported $3.1bn in cash flows from operations for the second quarter of fiscal 2012, an increase of 9.6% compared to $2.6bn in the corresponding quarter of fiscal 2011.
In the last quarter, Cisco had also completed its acquisition of video services company BNI Video for $99m in cash.