Technology

Cisco Caps Off Fiscal Year

8/10/2004 10:38 AM Eastern

Cisco Systems Inc. Tuesday reported its fourth-quarter and fiscal-year results for the periods ended July 31.

In its fourth quarter, Cisco posted net sales of $5.9 billion, up 26% from $4.7 billion in the year-earlier period.

Net income, on a generally accepted accounting principles basis, was $1.4 billion, or $0.20 per share, versus $982 million ($0.14) in the prior-year quarter. Pro forma net income was $1.5 billion ($0.21), up from $1.1 billion ($0.15) in the year-ago period.

For the full fiscal year, Cisco’s net sales rose 16.8%, to $22 billion from $18.9 billion in fiscal-year 2003. Net income on a GAAP basis was $4.4 billion, or $0.62 per share, versus $3.6 billion ($0.50) in the prior year, while pro forma net income was $5.3 billion ($0.76) compared with $4.3 billion ($0.59).

October