Cisco (CSCO) posted revenue for its fiscal first quarter ended October 25 of $10.3 billion, with non-GAAP profits of 42 cent a share. The Street had expected $10.3 billion and 39 cents.
The latest quarter EPS includes a gain of 3 cents a share from the settlement of certain tax matters.
Cash flow from operations in the quarter was $2.7 billion, down from $3.1 billion a year ago and $3.5 billion in FY Q4. Cash at quarter end was $26.8 billion, versus $26.2 billion one quarter earlier. The company bought back 46 million shares in the quarter for an average price of $21.95, and a total outlay of $1 billion.
DSOs at quarter end were 29 days, down from 34 days at the end of the last quarter, and 33 days a year ago.
In a statement, CEO John Chambers said the company “delivered solid revenue and earnings growth in what is clearly a very challenging global economy.”
Chambers said that “our strategy and focus for managing the business through this market transition is clear - we will manage and prioritize our resources, invest in innovation and build even stronger relationships with our customers to help enable their success.”
The company will provide guidance on the upcoming conference call; as usual, there is no guidance in the release.
