Cisco profit slides by nearly half

By on
Cisco profit slides by nearly half

Sales and income down but hopes decline has bottomed out.

Cisco Systems has reported fourth quarter profit down by nearly half and revenue down by 18 percent.

The networking specialist announced net sales of US$8.5 billion (AU$10.1 billion), with net income down 46 percent to US$1.1 billion (AU$771m).

Like most major IT suppliers finding sales more difficult to come by in the recession, Cisco presented the results as a positive outcome under pressure.

"Cisco delivered very solid quarterly and annual results in a challenging economic environment, as we continued our focus on disciplined execution and our customers' success," said Cisco chief executive John Chambers.

"We saw a number of positive signs this quarter in the economy and in our business, especially comparing our sequential quarter-over-quarter order trends. If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in the fourth quarter."

For the full year, revenue dropped 8.7 percent to US$36.1 billion (AU$43 million), with net income down 23.8 percent to US$6.1 billion (AU$7.27 million).

itweek.co.uk @ 2010 Incisive Media
Tags:

Most Read Articles

You must be a registered member of iTnews to post a comment.
| Register

Poll

New Windows 10 users, are you upgrading from...
Windows 8
Windows 7
Windows XP
Another operating system
Windows Vista
How should the costs of Australia's piracy scheme be split?
Rights holders should foot the whole bill
50/50
ISPs should foot the whole bill
Government should chip in a bit
Other
View poll archive

Whitepapers from our sponsors

What will the stadium of the future look like?
What will the stadium of the future look like?
New technology adoption is pushing enterprise networks to breaking point
New technology adoption is pushing enterprise networks to breaking point
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
The next era of business continuity: Are you ready for an always-on world?
The next era of business continuity: Are you ready for an always-on world?

Log In

Username:
Password:
|  Forgot your password?