Cisco Earnings Shows More Redemption (CSCO)

Investing

Published: November 9, 2011 4:21 pm

Last Updated: November 9, 2011 4:23 pm

Cisco Systems, Inc. (NASDAQ: CSCO) is trading higher after its earnings report. The leader in networking technologies and communications equipment reported earnings of $0.33 EPS net but the analyst equivalent adjusted figure is $0.43 EPS. Revenues were $11.3 billion. Thomson Reuters had estimates of $0.39 EPS and $11.02 billion in sales.

Cisco usually saves its guidance for the conference call, and the estimates from Thomson Reuters for the coming (or current) quarter is $0.42 EPS on $11.13 billion in sales.

What is interesting is that John Chambers noted that the company has completed the majority of its restructuring. Cisco ended with cash and cash equivalents of $44.4 billion at the end of the quarter.

Cash flow from operations was $2.3 billion (versus $1.7 billion a year earlier and versus $2.8 billion sequentially).

Cisco repurchased another 100 million shares of common stock in the quarter at an average price of $15.37 per share for $1.5 billion in total. It now boasts having repurchased and retired some 3.6 billion shares at a lifetime average of $20.49 per share for $73.3 billion in total.

The reaction does come after more than a 40% bounce from the August lows, so it is a bit muted. Shares closed down 3.8% at $17.61 and the after-hours session has the stock up almost 1% at $17.77.

JON C. OGG

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