Networking giant Cisco has reported positive results for its fiscal first quarter 2005, highlighting a 28.5 per cent increase in profit compared with the same quarter last year.
However, Cisco's total profit, which was reported as $1.4bn, is flat when compared with profit in Q4 2004. Turnover rose by 17.1 per cent year on year to $6bn, which is a 0.8 per cent increase quarter over quarter.
John Chambers, president of Cisco, said in a statement: "Cisco started the fiscal year with solid results across nearly all of our key financial metrics.
"Our execution also remained solid across our key product categories, industry segments, advanced technologies and geographies."
Cisco has recently spent a total of $395m on high-profile acquisitions, including Actona Technologies, Procket and P-Cube.
"As customers integrate data, voice and video across a combination of networks, they are asking for a common technology architecture to deliver applications and services in a way that is transparent to the end-user," Chambers said.
Ed Williams, business development manager for Europe at distributor Azlan, said: "They are a good set of results. Gross margin has dropped slightly in real terms, but Cisco's first quarter is usually quite quiet because of the August slowdown.
"The company is growing well, and there's no reason to assume it won't continue to do so."
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