PLEASE READ THIS AND TELL ME WHERE THE NEGATIVITY IS? td
SAN JOSE, Calif.--(BUSINESS WIRE)--August 8, 2000--Cisco Systems, Inc., the worldwide leader in networking for the Internet, today reported its fourth quarter results for the period ending July 29, 2000.
Net sales for the fourth quarter of fiscal 2000 were $5.72 billion, compared with $3.56 billion for the same period last year, an increase of 61%. Pro forma net income, which excludes the effects of acquisition charges, payroll tax on stock option exercises, and net gains realized on minority investments, was $1.20 billion or $0.16 per share for the fourth quarter of fiscal 2000, compared with pro forma net income of $710 million or $0.10 per share for the fourth quarter of fiscal 1999, increases of 69% and 60%, respectively.
During the fourth quarter of fiscal 2000, Cisco completed the acquisitions of Atlantech Technologies, Ltd., JetCell, Inc., PentaCom Ltd., Qeyton Systems, and Seagull Semiconductor, Ltd. for a combined purchase price, including assumed liabilities, of approximately $1.39 billion and took one-time charges of $461 million, or approximately $0.06 per share on an after-tax basis, as write-offs of purchased in-process R&D. Additionally, Cisco completed the acquisitions of ArrowPoint Communications, Inc., InfoGear Technology Corp., and SightPath, Inc. which were accounted for as poolings of interests.
Actual net income for the fourth quarter of fiscal 2000 was $796 million or $0.11 per share, compared with $605 million or $0.08 per share for the same period last year.
Net sales for fiscal 2000 were $18.93 billion, compared with $12.17 billion for fiscal 1999, an increase of 55%. Pro forma net income was $3.91 billion or $0.53 per share for fiscal 2000, compared with pro forma net income of $2.52 billion or $0.36 per share for fiscal 1999, increases of 56% and 47%, respectively.
Actual net income for fiscal 2000 was $2.67 billion or $0.36 per share, compared with $2.02 billion or $0.29 per share for fiscal 1999.
The net income per share and number of shares used in the per-share calculation for all periods presented reflect the two-for-one stock split that was effective March 22, 2000 |
