No formal targets ahead were provided, so consider today’s news unfinished business until guidance is given. Thomson Reuters estimates ahead are $0.42 EPS and $11.08 billion in revenues.
John Chambers maintains that the economic environment is challenging. He discussed delivering on the areas that the company can control at a time when the company is noting that capital spending is moderate in many areas of its business.
Cash flow (or caish-flow per Chambers) from operations was $1.7 billion; cash and equivalents was $38.9 billion; it repurchased 113 million shares of common stock at an average of $22.14 per share for an total of $2.5 billion; Days sales outstanding in accounts receivable was 38 days (versus 32 days a year ago and versus 41 days one quarter ago; Inventory turns on a Non-GAAP basis were 10.8, versus 12.1 one quarter ago and versus 11.3 a year ago. Gross margin was 62.8% versus 65.3% before.
Cisco was freshly listed as one of our Top 10 Stocks For The Next Decade, which has nothing to do with quarter to quarter comparisons.
The stock closed up 0.57% at $24.49 and the shares are down about 4% so far at $23.50 because of the company’s stance that the environment remains challenging and on word that ‘moderate’ was the term to describe the current cap-ex spending environment.
JON C. OGG
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