Cisco Systems (CSCO-NASDAQ) reported earnings of $0.34 non-GAAP EPS on revenues of $8.9 Billion versus estimates of $0.33 & $8.76B. Margins were approximately 64.5% versus 65% estimates.
Scientific-Atlanta, Inc. contributed net sales of $752 million during the third quarter, compared with $407 million during the third quarter of fiscal 2006. Cash flows from operations were $2.4 billion for the third quarter of fiscal 2007. Cash and cash equivalents and investments were $22.3 billion. Cisco repurchased 56 million shares of common stock at an average price of $26.85 per share for an aggregate purchase price of $1.5 billion. Days sales outstanding 33 days.
Since Cisco shares were up 2% today ahead of strong earnings hopes, shares are down roughly 4% in after-hours trading. Until guidance is out in the conference call this should be considered an open ticket item. The results were solid but some traders apparently were demanding more. We’ll check out the reaction to the conference call later before holding up a win or lose sign.
Jon C. Ogg
May 8, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in any of the companies he covers.
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