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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 72.11

-0.3%

Nov 5 3:59 PM EST

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To: RetiredNow who wrote (77177)	5/17/2013 10:31:50 AM
From: Kirk ©	of 77397

Cisco Systems (CSCO) reported third quarter earnings of $0.51 per share, excluding non-recurring items, $0.02 better than the Capital IQ consensus of $0.49, while revenues rose 5.4% year/year to $12.22 billion versus the $12.18 bln consensus. Cash flows from operations were $3.1 bln for the third quarter of fiscal 2013, compared with $3.3 billion for the second quarter of fiscal 2013, and compared with $3.0 bln for the third quarter of fiscal 2012. Cash and cash equivalents and investments were $47.4 billion at the end of the third quarter of fiscal 2013, compared with $46.4 bln at the end of the second quarter of fiscal 2013, and compared with $48.7 billion at the end of fiscal 2012. Cisco repurchased ~41 mln shares of common stock under the stock repurchase program at an average price of $20.85 per share for an aggregate purchase price of $860 mln. As of April 27, 2013, Cisco had repurchased and retired 3.8 bln shares of Cisco common stock at an average price of $20.35 per share for an aggregate purchase price of approximately $77.7 billion since the inception of the stock repurchase program. The remaining authorized amount for stock repurchases under this program is ~$4.3 bln with no termination date. "Cisco is executing at a very high level in a slow, but steady economic environment. We are especially pleased with our ninth consecutive record revenue quarter. We are starting to see some good signs in the US and other parts of the world which are encouraging. We have the right products, the right solutions and our customers are coming to us to solve their biggest business problems. The pace of change is increasing and Cisco is well positioned." Source www.siliconinvestor.com/readmsg.aspx?msgid=28899405

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