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Cisco quarterly revenue up 4% to record USD 12.8 bln
2015-08-13 08:42:00| Telecompaper Headlines
(Telecompaper) Cisco reported record revenues for its fiscal fourth quarter to July of USD 12.8 billion, up 3.9 percent from the same period last year. Sales in the Americas increased 7 percent, while the both EMEA and APJC regions were flat. Product revenue growth was led by Collaboration and Data Center, growing at 14 percent each, while the main products Switching and NGN Routing grew by 2 percent and 3 percent, respectively. Cisco reported a gross margin of 60.2 percent, while operating costs were up 3 percent year-on-year. Compared to fiscal Q3, the company added 900 employees, mainly for investments in key growth areas such as security, cloud and software. Adjusted operating profit was still up 9 percent year-on-year to USD 3.8 billion, and net profit rose 3.2 percent to USD 2.3 billion. Adjusted EPS was up 7.3 percent to USD 0.59. Cisco generated USD 4.1 billion of operating cash flow in the quarter, up from USD 3.6 billion a year ago, and finished the fiscal year with total cash of USD 60.4 billion. Cisco's new CEO Chuck Robbins also noted the solid rise in deferred revenue, up 7 percent to USD 15.2 billion at year-end. "I'm particularly pleased with the strong growth of deferred revenue which shows we are very effectively driving our business to a more predictable software-based business model, at the same time as growing revenues and earnings." The company's product backlog was worth USD 5.1 billion at the end of fiscal 2015, down from USD 5.4 billion a year earlier. For fiscal Q1, Cisco forecast revenue growth of 2-4 percent, an adjusted gross margin of 61-62 percent and adjusted EPS of USD 0.55-0.57. Over the full year, the company also expects around USD 700 million in charges for its restructuring announced in August.
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Category:Telecommunications