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Q&A med Genmab A/S, 26 Februar Kl. 14:30 Læs mere her
      

Cisco leverer


25449 akademikeren 3/2 2010 23:22
Oversigt

Cisco Reports Second Quarter Earnings

SAN JOSE, CA, Feb 03, 2010 (MARKETWIRE via COMTEX News Network) -- Cisco (NASDAQ: CSCO)

-- Q2 Net Sales: $9.8 billion (increase of 8% year over
year)

-- Q2 Net Income: $1.9 billion GAAP; $2.3 billion
non-GAAP

-- Q2 Earnings per Share: $0.32 GAAP (increase of 23% year over
year); $0.40 non-GAAP (increase of 25% year over year)

Cisco (NASDAQ: CSCO), the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its second quarter results for the period ended January 23, 2010. Cisco 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," said John Chambers, chairman and chief executive officer, 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."

GAAP Results
Q2 2010 Q2 2009 Vs. Q2 2009
------------- ------------- ------------
Net Sales $ 9.8 billion $ 9.1 billion 8.0%
Net Income $ 1.9 billion $ 1.5 billion 23.2%
Earnings per Share $ 0.32 $ 0.26 23.1%
Non-GAAP Results
Q2 2010 Q2 2009 Vs. Q2 2009
------------- ------------- ------------
Net Income $ 2.3 billion $ 1.9 billion 25.3%
Earnings per Share $ 0.40 $ 0.32 25.0%

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.

A reconciliation between net income on a GAAP basis and non-GAAP net income is provided in the table on page 6.

Cisco will discuss second quarter results and business outlook on a conference call and webcast at 1:30 p.m. Pacific Time today. Call information and related charts are available at http://www.cisco.com/go/investors. A Q&A with Cisco's Chairman and CEO John Chambers and CFO Frank Calderoni will also be available at http://newsroom.cisco.com. To view a video of Cisco's CFO discussing second quarter results, visit http://blogs.cisco.com.

Other Financial Highlights

-- Cash flows from operations were $2.5 billion for the second quarter of
fiscal 2010, compared with $1.5 billion for the first quarter of fiscal
2010, and compared with $3.2 billion for the second quarter of fiscal
2009.

-- Cash and cash equivalents and investments were $39.6 billion at the end
of the second quarter of fiscal 2010, compared with $35.0 billion at the
end of fiscal 2009, and compared with $35.4 billion at the end of the first
quarter of fiscal 2010.

-- During the second quarter of fiscal 2010, Cisco repurchased 63 million
shares of common stock at an average price of $23.96 per share for an
aggregate purchase price of $1.5 billion. As of January 23, 2010, Cisco had
repurchased and retired 2.9 billion shares of Cisco common stock at an
average price of $20.55 per share for an aggregate purchase price of
approximately $60.4 billion since the inception of the stock repurchase
program. The remaining authorized repurchase amount as of January 23, 2010
was $11.6 billion with no termination date.

-- Days sales outstanding in accounts receivable (DSO) at the end of the
second quarter of fiscal 2010 were 39 days, compared with 32 days at the
end of the first quarter of fiscal 2010, and compared with 29 days at the
end of the second quarter of fiscal 2009.

-- Inventory turns on a GAAP basis were 12.1 in the second quarter of
fiscal 2010, compared with 11.6 in both the first quarter of fiscal 2010
and the second quarter of fiscal 2009. Non-GAAP inventory turns were 11.7
in the second quarter of fiscal 2010, compared with 11.3 in both the first
quarter of fiscal 2010 and the second quarter of fiscal 2009.



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25449 Cisco leverer
3/2 23:22 akademikeren 1