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Cisco Systems anuncia sus resultados financieros del cuarto trimestre y del conjunto del año fiscal 2005

Cisco Systems anuncia sus resultados financieros del cuarto trimestre y del conjunto del año fiscal 2005.

Cisco Systems, Inc., the worldwide leader in networking for the Internet, today reported its fourth quarter and fiscal year results for the periods ended July 30, 2005.

SAN JOSE, Calif., August 9, 2005. - Net sales for the fourth quarter of fiscal 2005 were $6.6 billion, compared with $5.9 billion for the fourth quarter of fiscal 2004, an increase of 11.1 percent, and compared with $6.2 billion for the third quarter of fiscal 2005, an increase of 6.4 percent.

Net income for the fourth quarter of fiscal 2005, on a generally accepted accounting principles (GAAP) basis, was $1.5 billion or $0.24 per share, compared with $1.4 billion or $0.20 per share for the fourth quarter of fiscal 2004, and compared with $1.4 billion or $0.21 per share for the third quarter of fiscal 2005. Pro forma net income for the fourth quarter of fiscal 2005 was $1.6 billion or $0.25 per share, compared with $1.5 billion or $0.21 per share for the fourth quarter of fiscal 2004, and compared with $1.5 billion or $0.23 per share for the third quarter of fiscal 2005. A reconciliation between net income on a GAAP basis and pro forma net income is provided in a table immediately following the Pro Forma Consolidated Statements of Operations.

Net sales for fiscal 2005 were $24.8 billion, compared with $22.0 billion for fiscal 2004, an increase of 12.5 percent.

Net income for fiscal 2005, on a GAAP basis, was $5.7 billion or $0.87 per share, compared with $4.4 billion or $0.62 per share for fiscal 2004. Net income on a GAAP basis for fiscal 2004 included a non-cash cumulative stock compensation charge of $567 million or $0.08 per share relating to the implementation of Financial Accounting Standards Board Interpretation No. 46(R), as a consequence of the acquisition of Andiamo Systems, Inc. Pro forma net income for fiscal 2005 was $6.1 billion or $0.92 per share, compared with $5.3 billion or $0.76 per share for fiscal 2004.

During the fourth quarter of fiscal 2005, Cisco completed the acquisitions of FineGround Networks, Inc., M.I. Secure Corporation, NetSift, Inc., Sipura Technology, Inc., Topspin Communications, Inc. and Vihana, Inc.

"The close of Cisco's fourth quarter and 2005 fiscal year marks not only a period of strong operating performance for the company, including record net income and earnings per share, but also further demonstrates that our architectural strategy is working," said John Chambers, president and CEO, Cisco Systems, Inc. "The home run again this quarter was the continued balance we've achieved across geographies, architectural evolutions, product families and market segments, with the commercial and enterprise segments bringing in top results."

"Going forward, we will continue to make investments in our growth areas that we believe will provide customers with an intelligent network, one that is designed to allow them to evolve from a transaction-oriented network into an architecture that delivers a robust, interactive experience."

Cisco will discuss fourth quarter and fiscal year 2005 results and business outlook on a conference call and Webcast at 1:30 p.m. Pacific Time today. Call information and related charts are available at http://investor.cisco.com.

Financial Highlights
  • Cash flows from operations were $2.4 billion for the fourth quarter of fiscal 2005, compared with $2.0 billion for the fourth quarter of fiscal 2004, and compared with $1.9 billion for the third quarter of fiscal 2005. Cash flows from operations were $7.6 billion for fiscal 2005, compared with $7.0 billion for fiscal 2004.
  • Cash and cash equivalents and total investments were $16.1 billion at the end of fiscal 2005, compared with $19.3 billion at the end of fiscal 2004, and compared with $16.1 billion at the end of the third quarter of fiscal 2005.
  • During the fourth quarter of fiscal 2005, Cisco repurchased 130 million shares of common stock at an average price of $19.14 per share for an aggregate purchase price of $2.5 billion. As of July 30, 2005, Cisco had repurchased and retired 1.5 billion shares of Cisco common stock at an average price of $18.15 per share for an aggregate purchase price of approximately $27.2 billion since the inception of the stock repurchase program.
  • Days sales outstanding (DSO) in accounts receivable at the end of the fourth quarter of fiscal 2005 were 31 days, compared with 28 days at the end of the fourth quarter of fiscal 2004, and compared with 33 days at the end of the third quarter of fiscal 2005.
  • Inventory turns were 6.6 in the fourth quarter of fiscal 2005, compared with 6.4 in the fourth quarter of fiscal 2004, and compared with 6.5 in the third quarter of fiscal 2005.

"I am pleased with the continued focus and execution on our three long-term key financial priorities—growth, profitability and increasing shareholder value," said Dennis Powell, chief financial officer, Cisco Systems. "This quarter, we delivered record net income and earnings per share both on a GAAP and pro forma basis. With steady customer demand for our products across key segments, Cisco is clearly delivering solid performance with Q4 revenue of $6.6 billion, an increase of approximately 11% year over year. On an annual basis, we are delighted to end fiscal year 2005 with pro forma net income increasing 13.5% from fiscal year 2004, pro forma operating income increasing 15.4% and pro forma earnings per share increasing 21.1%."

Business Highlights
  • Cisco unveiled Cisco Application-Oriented Networking (AON) technology, an approach to networking that adds intelligence to the network and enables it to better understand business-application communications as well as help businesses make more effective business decisions.
  • Sprint is deploying a Cisco technology-based IP Next-Generation Network that will enable "triple play" (data, voice and video) offerings to enterprise customers worldwide.
  • T-Com, the fixed-network unit of Deutsche Telekom, is extending one of Europe's largest Cisco IP next- generation networks based on IP/Multiprotocol Label Switching (IP/MPLS) by an upgrade of its existing Cisco 12000 Series routers.
  • Australia-based WiZZ Communications deployed Cisco wireless and other networking technology to create a leading wireless network for business.
  • Red Bull Cheever Racing used Cisco wireless and voice-over-IP (VoIP) technology at the 89th annual Indianapolis 500, allowing engineers, pit crews and race car drivers immediate access to real-time information and statistics during the race.
  • British Airways selected Cisco and Prime Business Solutions to implement an IP telephony-based system designed to improve communication for 14,000 British Airways staff at UK offices and airports.
  • As part of a multimillion dollar contract, Swisscom selected the Cisco CRS-1 Carrier Routing System to transform Swisscom's entire core network to support Ethernet services for business customers and next-generation "triple play" over broadband services for residential and wholesale customers.
  • Fujitsu Limited and Cisco introduced the first product to be delivered under the strategic alliance announced in December 2004, a Fujitsu and Cisco CRS-1 Carrier Routing System built on the Cisco IOS® XR next-generation operating system.
  • Cisco announced definitive agreements to acquire privately held KiSS Technology A/S and Sheer Networks, Inc.

Editor's Note:

  • Q4 and FY'05 conference call to discuss Cisco's results along with its outlook for Q1 FY'06 to be held at 1:30 p.m. Pacific Time on Tuesday, August 9, 2005. Conference call number is 888-790-3530 (United States); 517-308-9081 (international).
  • Conference call replay will be available from 4:30 p.m. Pacific Time on August 9, 2005 to 4:30 p.m. Pacific Time on August 16, 2005 at 800-824-7031 (United States); 203-369-3222 (international). The replay is also available from August 9, 2005 through October 21, 2005 on the Cisco Investor Relations Website at http://www.cisco.com/go/investors.
  • Additional information regarding Cisco's financials as well as a Webcast of the conference call with visuals designed to guide participants through the call will be available at 1:30 p.m. Pacific Time on August 9, 2005. Text of the conference call's prepared remarks will be available within 24 hours of completion of the call. The Webcast will include both the prepared remarks and the question-and-answer session. This information, along with GAAP reconciliation information, will be available on the Cisco Investor Relations Website at http://www.cisco.com/go/investors.
  • A Q&A with Cisco's CEO and CFO on Q4 and FY'05 results will be available at http://newsroom.cisco.com.

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