Cisco posts $1.9bn profit for quarter

August 8, 2007 – Cisco reported a profit of $1.9bn for the fourth quarter of its 2007 fiscal year ending June 2007, up from $1.5bn one year previously.

Revenue increased 18% in the fourth quarter of the company’s fiscal year to reach $9.4bn.  Net profit for fiscal year 2007 as a whole reached $7.3bn, while total revenue was $34.9bn.

“The performance was based on our balanced approach across products, services, geographies and customer segments,” stated John Chambers, CEO and Chairman of the equipment manufacturer.  “As we turn our attention to the next fiscal year, we believe that we are headed into a new era in networking that we define as the second phase of the internet.  We believe that this phase will be driven by collaboration and Web 2.0 technologies and will become an increasingly influential market trend for businesses.”

Set-top box manufacturer Scientific-Atlanta, acquired in 2006, contributed $2.8bn to net sales for the fiscal year 2007, compared to $989mn in the previous year.