Boston, MA 10/22/2013 (wallstreetpr) – Cisco Systems, Inc. (NASDAQ:CSCO), manufactures, designs, and sells Internet Protocols (IP) based networking and other products which are related to the communication and information technology industry. Apart from this, it also provides other ancillary services associated with the products offered and their use.
The company recently announced their third quarter earnings results that surpassed the street estimates. Cisco Systems Inc. (NASDAQ:CSCO) had net sales of $12.2 billion, up 5% compared to the previous year, and the revenues were observed to be $2.5 billion. Looking at the strong performance in the last quarter, management indicated that owing to strong sets of product portfolios, future prospects of the company looks positive.
Despite the slow and steady economic environment, along with the advantages offered through various other technological devices, inclusive of mobile, video and cloud system,the company had been performing effectively and reporting strong sets of numbers.
The company had registered positive revenues growth consecutively for the ninth quarter, and the company, which made the strategic decision to tap from the revolutionizing internet world, had lead to achieve these robust performances.
The company has been involved in share buyback and sharing dividends to its shareholders. The company had spent a total of $1.8 billion for such purposes and shareholders have received the dividend of $0.17 per share.
The company has aggressively moved on acquisitions to bolster its technology platform and to bolster sales. The company, in the last decade, has acquired more than 140 companies and has posted more profits than losses. It has managed to stay ahead of its competitors even as the macro economic conditions have worsened. The company has a cash pile of $50 billion that can easily be deployed to fund more acquisitions in the near future.
It is believed that, Blackberry fits properly into the strategic requirements of the company. Blackberry would help Cisco build up its security offering as well as offer the company a stepping stone in its quest of entering the mobile market.
