Cisco posts positive results

Networking giant confirms it is well positioned for continuing growth

Networking giant Cisco has posted turnover of $28.5bn for 2006, a rise from the $24.8bn recorded in 2005.

Net profit for 2006, on a generally accepted accounting principles (GAAP) basis, was $5.6bn.

The vendor also posted turnover of $7.98bn for the fourth quarter of 2006, compared with $6.6bn in the same quarter of last year. Profit in the quarter was $1.5bn, compared with $1.4bn in the third quarter of 2006.

John Chambers, president and chief executive of Cisco, said: "Cisco delivered a record quarter across the board, ending a fiscal year that demonstrated our strong momentum and balance across geographies, products and customer segments.

"It's clear we are executing well and on target against our long-term strategy and our vision of the network enabling almost all forms of communications and IT.
Our vision and unique ability to innovate and capture market transitions are why we believe we are poised for continued growth.

"Not only is the network becoming the primary driver of IT and communications, it is becoming the platform for life's experiences. Our ability to anticipate these changes and execute on our strategy is increasing our market share as well as our share of our customers' total IT spend," added Chambers.