Cisco Systems Inc. San Jose 3rd Quar April 27:
2002 2001
Sales $4,822,000,000 $4,728,000,000
Net income 729,000,000 (2,693,000,000)
Avg shrs (basic) 7,306,000,000 7,251,000,000
Avg shrs (diluted) 7,454,000,000 7,251,000,000
Shr earns (basic) Net income .10 (.37)
Shr earns (diluted) Net income .10 (.37)
Figures in parentheses are losses.
Cisco Systems Inc.'s (CSCO) pro forma earnings of $838 million, or 11 cents a share, topped analysts' consensus estimate of 9 cents a share, which was based on a Thomson Financial/First Call survey of 34 analysts.
However, revenue came in below the $4.87 billion Wall Street had predicted.
As expected, the maker of network routing and switching equipment reported its first rise in quarterly sales and earnings in more than a year. A number of smaller rivals have reported lackluster numbers recently.
Cisco predicted in February that its sales would be either flat with the second quarter's $4.82 billion, or rise at a percentage in the low single digits.
The pro forma results exclude the effects of acquisition charges, payroll tax on stock option exercises and certain nonrecurring items.
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