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Cisco Reports Higher Fiscal Second-Quarter Earnings

Cisco Systems Inc.'s fiscal second quarter profits jumped nearly 13 percent Tuesday, but sales missed expectations.
February 09, 2005

SAN JOSE, Calif. (AP) -- Cisco Systems Inc.'s fiscal second quarter profits jumped nearly 13 percent Tuesday, though sales missed expectations, as the company continued to see strength both in its traditional router business and such emerging technologies as Internet telephones.

For the three months ended Jan. 29, Cisco earned $1.4 billion, or 21 cents per share, compared with $724 million, or 10 cents per share, in the same period last year.

Excluding special items, Cisco earned $1.48 billion, or 22 cents per share, compared with a profit of $1.32 billion, or 18 cents per share, in the same period in fiscal 2004. Sales jumped 12 percent to $6.06 billion, from $5.4 billion last year.

The earnings beat Wall Street expectations, while revenue missed. Analysts were expecting Cisco to earn 22 cents on sales of $6.13 billion, according to a survey by Thomson First Call.

In November, the company said it expected year-over-year sales to increase as much as 14 percent over the current quarter.

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