Cisco Reports Q3 Earnings: Net Sales Was $11.6 Billion, Net Income Was $0.40 Per Share

Posted on May 10 2012 - 4:08am by Editorial Staff

The networking giant Cisco has reported its quarter third results for the period ended April 28, 2012. The company reported quarter net sales of $11.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.2 billion, or $0.40 per share, and non-GAAP net income of $2.6 billion, or $0.48 per share.

Net sales for the first nine months of fiscal 2012 were $34.4 billion, compared with $32.0 billion for the first nine months of fiscal 2011. Net income for the first nine months of fiscal 2012, on a GAAP basis, was $6.1 billion, or $1.13 per share, compared with $5.3 billion, or $0.94 per share, for the first nine months of fiscal 2011. Non-GAAP net income for the first nine months of fiscal 2012 was $7.5 billion, or $1.38 per share, compared with $6.8 billion, or $1.22 per share, for the first nine months of fiscal 2011.

The company reported cash flows from operations were $3.0 billion for the third quarter of fiscal 2012, compared with $3.1 billion for the second quarter of fiscal 2012, and compared with $3.0 billion for the third quarter of fiscal 2011. Cash and cash equivalents and investments totaled $48.4 billion at the end of the third quarter of fiscal 2012, compared with $46.7 billion at the end of the second quarter of fiscal 2012, and compared with $44.6 billion at the end of fiscal 2011.

The company further reported that it has purchased 27 million share of common stock under its stock repurchase program at an average price of $20.28 per share for an aggregate purchase price of $550 million. During the third quarter of fiscal 2012, Cisco also paid a cash dividend of $0.08, or $432 million.

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