Exhibit 99.1

 

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Marilyn Mora

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CISCO REPORTS FOURTH QUARTER AND FISCAL YEAR 2021 EARNINGS

News Summary:

 

   

Cisco ended fiscal 2021 strong with Q4 performance of $13.1 billion in revenue (up 8% year over year) and fiscal year revenue of $49.8 billion

 

   

Double digit order growth across all customer markets and geographies, including product order growth of 31% - strongest year-over-year growth in over a decade

 

   

Continued momentum in transforming our business delivering more software and subscriptions - achieved $4 billion in software revenue in Q4 (an increase of 6% with subscription revenue up 9% year over year) and $15 billion for the year (an increase of 7% with subscription revenue up 15% year over year)

 

   

Q4 Results:

 

   

Revenue: $13.1 billion

 

   

Increase of 8% year over year

 

   

Earnings per Share: GAAP: $0.71; Non-GAAP: $0.84

 

   

GAAP EPS increased 15% year over year

 

   

Non-GAAP EPS increased 5% year over year

 

   

FY 2021 Results:

 

   

Revenue: $49.8 billion

 

   

Increase of 1% year over year

 

   

Earnings per Share: GAAP: $2.50; Non-GAAP: $3.22

 

   

GAAP EPS decreased 5% year over year

 

   

Non-GAAP EPS was flat year over year

 

   

Q1 Guidance:

 

   

Revenue: 7.5% to 9.5% growth year over year

 

   

Earnings per Share: GAAP: $0.61 to $0.66; Non-GAAP: $0.79 to $0.81

 

   

FY 2022 Guidance:

 

   

Revenue: 5% to 7% growth year over year

 

   

Earnings per Share: GAAP: $2.72 to $2.84; Non-GAAP: $3.38 to $3.45

SAN JOSE, Calif. — August 18, 2021 — Cisco today reported fourth quarter and fiscal year results for the period ended July 31, 2021. Cisco reported fourth quarter revenue of $13.1 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.0 billion or $0.71 per share, and

non-GAAP net income of $3.6 billion or $0.84 per share.

“We continue to see great momentum in our business as customers are looking to modernize their organizations for agility and resiliency,” said Chuck Robbins, Chair and CEO of Cisco. “The demand for Cisco technology is strong with our Q4 performance marking the highest product order growth in over a decade. With the power of our portfolio, we are well positioned to help our customers accelerate their digital transformation and thrive in a hybrid world.”

“We executed exceptionally well delivering strong results across revenue, non-GAAP net income, non-GAAP EPS and record operating cash flow,” said Scott Herren, CFO of Cisco. “Our performance reflects the impact of our investments in high growth opportunities resulting in our strong product order growth. As we continue to drive our business model transformation to more recurring revenue, we now have built up over $30 billion in remaining performance obligations.”

 

1


The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, August 18, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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