Riding on the back of continued e-commerce and B2B take-up, networking monolith Cisco Systems has posted its fourth quarter results this week, showing significant gains in sales - however not reflected by the company's net income.
Net sales for the fourth quarter of fiscal 2000 were $US5.72 billion, up from $3.56 billion for the same period last year, representing an increase of 61 per cent.
Net income on the other hand, only rose from $US605 million Q4 last year to $796 million - an increase of around 31 per cent.
Cisco was busy completing numerous acquisitions in the fourth quarter of fiscal 2000, including Atlantech Technologies, JetCell, PentaCom, Qeyton Systems and Seagull Semiconductor, for a combined purchase price (including assumed liabilities) of approximately $US1.3 billion.
Additionally, Cisco completed the acquisitions of ArrowPoint Communications, InfoGear Technology Corporation and SightPath, which were accounted for as poolings of interests.
For fiscal year 2000 Cisco clocked up $US18.93 billion in sales, compared to $12.17 billion for fiscal 1999. And this resulted in a net income of $US2.67 billion up from $2.02 billion last year -- In essence a seven cent increase per share.
Note -- The net income per share and number of shares used in the per-share calculation for all periods reflect the two-for-one stock split that was effective on March 22.