Cisco sales shoot up nearly 30% in Q4

“This was yet another strong quarter with various record financial results for Cisco, closing the fiscal year in a tremendous position of strength-a compelling financial model, a well-tuned innovation engine & solid execution on our growth strategy,” said John Chambers, chairman & CEO, Cisco on the earnings announcement.

Networking seller Cisco has reported strong fourth quarter results, with sales shooting up 27% to US$10.8 billion. Net income on a GAAP basis was $1.9 billion for the quarter, representing an exceptional 79% rise over Q4 2009.

Chambers believes the firm’s success continues to swim against the global tides of recession: “Whether the global economy continues to show mixed signals or not-the strength of our financial model & profit generation serves us well. As they continue to successfully grow our business & share of IT investments, our focus is squarely on helping our customers speed up productivity & growth. they are confident in our strategy, & will continue to aggressively move in to new areas where the network is becoming the platform, & where our customers require us to invest & innovate.”

For the fiscal year, on a GAAP basis the company had a net income of $7.8 billion on sales of $40 billion, a 26% improvement compared to the last year.