Cisco Reports US$1.2 Billion Q4 Income

BOSTON (08/08/2000) - Cisco Systems Inc. slightly edged analyst expectations for its fourth quarter of fiscal 2000, posting pro forma net income Tuesday of US$1.20 billion or 16 cents a share compared to $710 million or 10 cents per share for the year-ago quarter.

Thirty-three analysts polled by First Call/Thomson Financial forecast that the networking monolith would report earnings per share of 15 cents. The pro forma financial results for the quarter, which ended July 29, 2000, exclude acquisition charges, payroll on stock option exercises and net gains from minority investments.

Actual net income for the fourth quarter of fiscal 2000 was $796 million or 11 cents per share, compared to $605 million or 8 cents per share in the year-ago quarter, the company said in a statement.

Cisco had net sales of $18.93 billion for fiscal 2000 as a whole, compared to $12.17 billion in fiscal 1999, up 55 percent. Pro forma net income for the fiscal year was $3.91 billion or 53 cents per share for the fiscal year, compared to $2.52 billion and 36 cents per share in fiscal 1999. Actual net income for the fiscal year was $2.67 billion or 36 cents per share, compared with $2.02 billion or 29 cents per share last fiscal year.

Cisco, in San Jose, California, can be reached at +1-408-526-4000 or http://www.cisco.com/.

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