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Cisco Systems revenue rose more than 10 percent in the company's fiscal third quarter, though its net income fell due to an acquisition charge and other one-time factors.
Revenue rose to US$9.8 billion from $8.9 billion a year earlier, while net income was $1.8 billion, down 5.4 percent from $1.9 billion in last year's third quarter. Cisco earned $0.29 per share, down from $0.30 per share a year earlier.
But excluding certain charges, earnings were $0.38, up from $0.34 a year earlier, Cisco said. The company took an acquisition-related charge of $246 million, or $0.04 per share, in the quarter.
The charge was related to Cisco's acquisition of the remaining 20 percent of data-center technology vendor Nuova Systems.
Cisco is still comfortable with its long-term revenue growth forecast, Chairman and CEO John Chambers said on a conference call following the release.
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Comments (5)
Alarming Cisco 3rd quarter 2008 channel stuffingBy Brad Reese on May 8, 2008, 12:52 pmIt is the opinion of yours truly that Cisco has engaged in channel stuffing in order to achieve its desired 3rd Qtr 2008 financial numbers: Alarming Cisco 3rd...
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Network World has covered this fairlyBy Cisco Subnet on May 7, 2008, 1:59 pmNetwork World has covered Cisco's earnings in several spots. We ran the story, which was written by the IDG News Service (an affiliate) with the headline you...
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Network World should beBy Anonymous on May 7, 2008, 11:04 amNetwork World should be embarrassed. Rather than take a positive story and give a bit of light at the end of the tunnel to their readership who undoubtedly is impacted...
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Bias in NetworkWorld's Reporting By Anonymous on May 7, 2008, 9:43 amAh, we can now see how wonderfully fair the reporting from NetworkWorld is going to be. Cisco has extremely decent earnings (especially given the global economy...
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Cisco earnings tops analysts expectationsBy Cisco Subnet on May 6, 2008, 8:20 pmAnother great quarter for Cisco. In fact, Forbes reports that Cisco's results beat analysts estimates by about 2 cents/share. Really double digit growth is amazing...
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