NewsByte 7 August 2001

Cisco Systems Reports Fiscal Year 2001 and Fourth Quarter Earnings

Cisco Systems, Inc., the worldwide leader in networking for the Internet, today reported its fiscal year 2001 and fourth quarter results for the period ending July 28, 2001. Net sales for fiscal 2001 were $22.29 billion, compared with $18.93 billion for fiscal 2000, an increase of 18%. Pro forma net income, which excludes the effects of acquisition charges, payroll tax on stock option exercises, restructuring costs and other special charges, excess inventory charge (benefit), and net gains realised on minority investments, was $3.09 billion or $0.41 per share for fiscal 2001, compared with pro forma net income of $3.91 billion or $0.53 per share for fiscal 2000, decreases of 21% and 23%, respectively. Actual net loss for fiscal 2001 was $1.01 billion or $0.14 per share, compared with actual net income of $2.67 billion or $0.36 per share for fiscal 2000. Net sales for the fourth quarter of fiscal 2001 were $4.30 billion, compared with $5.72 billion for the same period last year, a decrease of 25%. Pro forma net income was $163 million or $0.02 per share for the fourth quarter of fiscal 2001, compared with pro forma net income of $1.20 billion or $0.16 per share for the fourth quarter of fiscal 2000, decreases of 86% and 87%, respectively. Actual net income for the fourth quarter of fiscal 2001 was $7 million or $0.00 per share, compared with actual net income of $796 million or $0.11 per share for the same period last year.

Source: http://newsroom.cisco.com/dlls/fin_080701.html
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