MENLO PARK, California, February 10, 1994 - Cisco Systems, Inc.,(NASDAQ: CSCO), a manufacturer of internetworking computer systems, todayreported its second quarter results for the period ended January 30, 1994.Net sales for the second fiscal quarter were $302,166,000 and net incomewas $77,472,000, or $.29 per share*.
This compares to net sales of $145,071,000 and net income of$38,694,000, or $.15 per share* in the same period lastyear, andare increases of 108 percent, 100 percent, and 93 percent, respectively.
Cisco Systems' fiscal year is a 52 or 53 week year ending on the lastSunday of July. The 53rd week in fiscal 1994 is included in the secondquarter ended January 30, 1994.
"It is my pleasure to report the sixteenth consecutive quarter ofgrowth in revenue and profitability since the company went public inFebruary 1990," said John Morgridge, president and CEO of Cisco. "Duringthe quarter, Cisco received full ISO9001 certification, an internationally recognized endorsement forquality management and quality assurance.
"We also shipped an array of new products and features that provideaccess to remote users of corporate internetworks. A jointdevelopment effort with LanOptics Ltd. to integrate routing and hubfunctionalityfor distributed corporate local-area network applications will add to ourremote access solutions, as will our agreement withMicrosoft to integratePC-based router cards with Microsoft Windows NT Advanced Servers.
"Other strategic partnerships include an agreement withAlcatel, one ofthe world's largest suppliers of telecommunications equipment. Alcatel willoffer Cisco products as its preferred partner for router equipment andintegrate Cisco technology directly into Alcatel products. An agreementwith Cascade Communications allows us to jointly develop amultiservicewide-area network solution for the telecommunications marketplace."
* Per-share amounts have been adjusted to reflect the two-for-one stocksplit which will be effective March 4, 1994.
Posted: Feb 10 15:30:25 1994
