Exhibit 99.1

 

Press Contact:    Investor Relations Contact:

Robyn Jenkins-Blum

   Laura Graves

Cisco

   Cisco

+1 (408) 853-9848

   +1 (408) 526-6521

rojenkin@cisco.com

   lagraves@cisco.com

CISCO REPORTS FOURTH QUARTER AND FISCAL YEAR 2010 EARNINGS

 

   

Q4 Net Sales: $10.8 billion (increase of 27% year over year)

 

   

Q4 Net Income: $1.9 billion GAAP; $2.5 billion non-GAAP

 

   

Q4 Earnings per Share: $0.33 GAAP (increase of 74% year over year); $0.43 non-GAAP (increase of 39% year over year)

 

   

FY 2010 Net Sales: $40.0 billion (increase of 11% year over year)

 

   

FY 2010 Net Income: $7.8 billion GAAP; $9.4 billion non-GAAP

 

   

FY 2010 Earnings per Share: $1.33 GAAP (increase of 27% year over year); $1.61 non-GAAP (increase of 19% year over year)

SAN JOSE, Calif. – August 11, 2010 – Cisco, the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its fourth quarter and fiscal year results for the period ended July 31, 2010. Cisco reported fourth quarter net sales of $10.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.9 billion or $0.33 per share, and non-GAAP net income of $2.5 billion or $0.43 per share.

“This was yet another very strong quarter with a number of record financial results for Cisco, closing the fiscal year in a tremendous position of strength – a compelling financial model, a well-tuned innovation engine and solid execution on our growth strategy,” said John Chambers, chairman and CEO, Cisco.

Chambers continued, “Whether the global economy continues to show mixed signals or not – the strength of our financial model and profit generation serves us well. As we to continue to successfully grow our business and share of IT investments, our focus is squarely on helping our customers accelerate productivity and growth. We are very confident in our strategy, and will continue to aggressively move into new areas where the network is becoming the platform, and where our customers want us to invest and innovate.”

Q4 GAAP Results

 

     Q4 2010    Q4 2009    Vs. Q4 2009  

Net Sales

   $  10.8 billion    $  8.5 billion    27.0 %

Net Income

   $ 1.9 billion    $ 1.1 billion    79.0 %

Earnings per Share

   $ 0.33    $ 0.19    73.7 %

Q4 Non-GAAP Results

 

     Q4 2010    Q4 2009    Vs. Q4 2009  

Net Income

   $  2.5 billion    $  1.8 billion    36.3 %

Earnings per Share

   $ 0.43    $ 0.31    38.7 %

Fiscal Year GAAP Results

 

     FY 2010    FY 2009    Vs. FY 2009  

Net Sales

   $  40.0 billion    $  36.1 billion    10.9 %

Net Income

   $ 7.8 billion    $ 6.1 billion    26.6 %

Earnings per Share

   $ 1.33    $ 1.05    26.7 %

Fiscal Year Non-GAAP Results

 

     FY 2010    FY 2009    Vs. FY 2009  

Net Income

   $  9.4 billion    $  8.0 billion    18.6 %

Earnings per Share

   $ 1.61    $ 1.35    19.3 %

GAAP net income and GAAP earnings per share for the fourth quarter and fiscal year of 2010 included a pretax charge of $120 million or $0.02 per share related to impairments and other charges related to excess facilities. 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 fourth quarter and fiscal year 2010 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:// investor.cisco.com. To view a video of Cisco’s CFO discussing fourth quarter results, visit http://blogs.cisco.com.

Other Financial Highlights

 

   

Cash flows from operations were $3.2 billion for the fourth quarter of fiscal 2010, compared with $3.0 billion for the third quarter of fiscal 2010, and compared with $2.0 billion for the fourth quarter of fiscal 2009. Cash flows from operations were $10.2 billion for fiscal 2010, compared with $9.9 billion for fiscal 2009.


The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, August 11, 2010 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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