Cisco Systems had an encouraging fourth quarter with net sales reaching $11.7 billion, an increase of four per cent year over year.
Cisco also reported that Q4 Net Income topped $1.9 billion GAAP an increase of 56 per cent year over year and $2.5 billion non-GAAP, which is an increase of 15 per cent year over year.
Cisco Chairman and CEO John Chambers, said as a result of our strong performance, continued execution on our plan to deliver profitable growth, and commitment to shareholders, for the full fiscal year, we delivered revenue growth of seven per cent as well as a record year in revenue and earnings per share.
“Our strategy on delivering intelligent networks and technology architectures, built on integrated products, services and software platforms, to fuel our customers’ businesses is proving the right long-term strategy for our success. There is no question that our industry and our world are evolving quickly and Cisco is squarely at the center of major technology market transitions — cloud, mobile, visual, virtual and social.”