Cisco reveals excellent results
- 06 August, 1998 13:52
Cisco Systems backed up excellent international results with good growth on local front, growing by 70 per cent this financial year, local managing director Gary Jackson claimed yesterday.
"We've had very good performance across the board, despite the incredible price pressures in our industry," he said.
On the international front, revenue was up 31 per cent over the previous financial year, to $US8.459 billion dollars. Net income for the year was $US1.35 billion.
Local results indicated the shift away from Cisco being reliant on its enterprise revenue. Enterprise revenue was down from around 65 per cent last year to 45 per cent this year. The big increase in Cisco's business came from the telco and small to medium enterprise side of the business.
Cisco was also far less reliant on its routers, as well, with its switch business accounting for up to 38 per cent of last years revenue. By next year, switching revenue will be on par with that from routing, Jackson claimed.
"We must continue to take market share in switching," he said.
Strong channel relations are essential for the company's growth, too, as last year 75 per cent of its revenue went through partners, Jackson said.
"It's like an unfinished symphony, you never do good enough, but we will continue to strive for the respect and business of our partners," he said.