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Cisco revenues, orders grow 1% in October quarter
2014-11-13 08:59:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenues of USD 12.2 billion for its fiscal first quarter to 25 October, up 1 percent year-on-year. Net profit totaled USD 1.8 billion or USD 0.35 per share, down from USD 2.0 billion or USD 0.37 a share a year ago. The gross margin increased to 63.3 percent from 63.0 a year ago, and adjusted EPS improved 1.9 percent to USD 0.54. CEO John Chambers said the company was pleased with the results, which showed its strongest Q1 ever. The main growth areas remained data centres, wireless and security, while the main switching business grew sales 3 percent to USD 3.85 billion. While the group's book-to-bill ratio was below 1 in the quarter, Cisco saw overall growth of 1 percent in product orders in the quarter. The Americas grew by 2 percent and EMEA region by 6 percent, led by double-digit growth in the UK and south Europe. The public sector improved to 13 percent annual growth in orders, and orders from the commercial segment grew 5 percent. The only weak points were Asia (-12%) and the service provider market (-10%). Cisco also announced that CFO Frank Calderoni has decided to step down from the start of next year. Kelly Kramer, currently senior vice president, Business Technology and Operations Finance at Cisco, will succeed him.
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Category:Telecommunications