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Cisco Reports 2nd Quarter Results

Cisco has announced its second quarter results for the period ended January 23, 2010. The firm reported second quarter net sales of $9.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.9 billion or $0.32 per share, and non-GAAP net income of $2.3 billion or $0.40 per share.

“Our outstanding Q2 results exceeded our expectations and we believe they provide a clear indication that we are entering the second phase of the economic recovery. During the quarter we saw dramatic across the board acceleration and sequential improvement in our business in almost all areas, ” said John Chambers, chairman and CEO of Cisco.

He continued: “We are confident that our aggressive strategy of investing in the business during the downturn and our focus on innovation, operational excellence, and productivity are driving our momentum and growth in the market. We believe that we are extremely well-positioned-by geography, in our customer segments, and in our key product categories-as economies around the world continue to improve and our customers increase their technology investments.”

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