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Cisco edges up

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Cisco has posted modest increases in its third quarter results, with net sales of $10,9-billion, and increase of 5% year over year, and net income of $1,8-billion (GAAP) or $2,3-billion (non-GAAP).

The company’s earnings per share for the quarter are $0,33 (GAAP), a decrease of 11% year over year, and $0,42 (non-GAAP), which is flat year over year.
"This quarter played out as we expected," says John Chambers, chairman and CEO of Cisco. "We have acknowledged our challenges. We know what we have to do. We have a clear game plan, and we are a company with a track record of market-shaping innovation.  We thank our shareholders, employees, customers and partners as we transition to the next phase of Cisco."
Net sales for the first nine months of fiscal 2011 were $32-billion, compared with $29,2-billion for the first nine months of fiscal 2010. Net income for the first nine months of fiscal 2011, on a GAAP basis, was $5,3-billion or $0,94 per share, compared with $5,8-billion or $0,99 per share for the first nine months of fiscal 2010. Non-GAAP net income for the first nine months of fiscal 2011 was $6,8-billion or $1,22 per share, compared with $6,9-billion or $1,18 per share for the first nine months of fiscal 2010.