Sunday
March
01
2015
11:24 pm
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Cisco’s 2Q profit dips on charges, revenue decline
February 13, 2014, 05:00 AM The Associated Press

SAN JOSE — Cisco Systems Inc. reported Wednesday that weaker revenue and special charges weighed down its second-quarter profitability.

The San Jose company said after the market closed that it earned $1.43 billion, or 27 cents per share, for the quarter. That’s down from $3.14 billion, or 59 cents per share, a year earlier.

Cisco’s results included a $655 million charge to address issues with memory components, and the prior quarter’s results include a $926 million tax benefit. After adjusting for those and other special items in both periods, the company earned 47 cents per share, compared with 51 cents per share last year.

The company, which sells routers, switches, software and services, said its revenue fell nearly 8 percent to $11.16 billion from $12.1 billion.

Analysts polled by FactSet were anticipating earnings of 46 cents per share on revenue of $11.04 billion.

Cisco on Tuesday also raised its dividend 12 percent to 19 cents per share, up from 17 cents. The new dividend will be paid on April 23 to shareholders of record as of April 3.

Shares of Cisco fell 74 cents, a 3.2 percent decline, to $22.11 in after-hours trading. Its shares closed regular trading at $22.85, up roughly 9 percent from this time last year.

 

 

Tags: cents, share, billion, percent, after, company,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What do you think of the new net neutrality rules imposed by the FCC on broadband providers?

Agree, Internet access should be governed like a utility
Don't agree, it will limit the free market
Worry about taxes
Worry it will prevent further access
It's too complicated

 

 
 
 
 
 
 
 
 
  
 
  
 
©2015 San Mateo Daily Journal
Burlingame news