Cisco turnover rise in three months to February - Network Accessories

Cisco turnover rise in three months to February - Network Accessories Network equipment manufacturer Cisco beat turnover estimates during the last three months, it has been reported.

According to a company statement, net income rose to $2.18 billion (£1.37 billion), or 40 cents a share, in the quarter to January 28th 2012.

This was up from $1.52 billion, or 27 cents a share, a year earlier.

Frank Calderoni, Cisco's chief financial officer, said the firm has consistently reiterated its commitment to using the cash generated in its business to drive shareholder value.

The company does so with a combination of stock repurchases, dividends, mergers and acquisitions, and research and development, he explained.

"This quarter, with the strength of our business, we're pleased to announce an increase in our dividend," Mr Calderoni added.

"Going forward, we will continue to focus on driving the greatest return for our investors."

Cisco recently announced an intention to reclaim market share from its rivals in the network switches market.

News provided by Comms Express, number one for Cisco switches on the net ADNFCR-1186-ID-801288292-ADNFCR

Last Updated: 09/02/2012 11:27

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Cisco turnover rise in three months to February - Network Accessories - Article Discussion

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