Cisco reports positive results for Q2

7 Feb 2007

Cisco, one of the world’s largest computer networking companies, has reported profits of US$2.1bn on sales of US$8.4bn for its second quarter.

Net sales for the first six months of fiscal 2007 were US$16.6bn, compared with US$13.2bn for the first two quarters of its 2006 financial year. Its second quarter revenues showed a rise of 27.3pc on the same quarter a year ago and its net profits increased by 39.7pc.

Last February Cisco acquired Scientific-Atlanta, a maker of cable TV set-top boxes, as part of a push into the consumer market. In its latest results Cisco said this division contributed net sales of US$639m during the second quarter and US$1.2bn to net sales during the first six months of its 2007 financial year.

Cisco chairman and CEO John Chambers said the record results were “well balanced across our geographies, products, services, customer segments and new markets”. He claimed that the trend of IT and communication moving to a single network was growing the total market available to Cisco.

Cisco employs approximately 60 people in Dublin. Last November the company announced plans to establish a new research and development centre in Galway, creating up to 200 jobs over the next three years.

By Gordon Smith