Cisco, often regraded as the bellwether of the ICT industry, has reported increased revenues – and a commitment to hire up to 3 000 people in the next few quarters.
Yesterday, the reported second quarter net sales of $9,8-billion, net income on a generally accepted accounting principles (GAAP) basis of $1,9-billion or $0.32 per share, and non-GAAP net income of $2,3-billion or $0.40 per share.
"Our outstanding Q2 results exceeded our expectations and we believe they provide a clear indication that we are entering the second phase of the economic recovery. During the quarter we saw dramatic across the board acceleration and sequential improvement in our business in almost all areas," says John Chambers, chairman and CEO of Cisco.
"We are confident that our aggressive strategy of investing in the business during the downturn and our focus on innovation, operational excellence, and productivity are driving our momentum and growth in the market.
"We believe that we are extremely well-positioned — by geography, in our customer segments, and in our key product categories — as economies around the world continue to improve and our customers increase their technology investments."
Net sales for the first six months of fiscal 2010 were $18,8-billion, compared with $19,4-billion for the first six months of fiscal 2009. Net income for the first six months of fiscal 2010, on a GAAP basis, was $3,6-billion or $0.62 per share, compared with $3,7-billion or $0.63 per share for the first six months of fiscal 2009. Non-GAAP net income for the first six months of fiscal 2010 was $4,5-billion or $0.76 per share, compared with $4,4-billion or $0.74 per share for the first six months of fiscal 2009.