Extract
Cisco Systems Reports Third Quarter Earnings.
SAN JOSE, Calif. -- Cisco Systems, Inc. (Nasdaq:CSCO):
--Q3 Net Sales: $7.3 billion --Q3 Net Income: $1.4 billion GAAP; $1.8 billion non-GAAP --Q3 Earnings Per Share: $0.22 GAAP; $0.29 non-GAAP Cisco Systems, Inc., the worldwide leader in networking for the Internet, today reported its third quarter results for the period ended April 29, 2006. Net sales for the third quarter of fiscal 2006 were $7.3 billion, compared with $6.2 billion for the third quarter of fiscal 2005 and compared with $6.6 billion for the second quarter of fiscal 2006. On February 24, 2006, Cisco completed the acquisition of Scientific-Atlanta, Inc., which contributed $407 million to net sales for the third quarter of fiscal 2006. Net income for the third quarter of fiscal 2006, on a generally accepted accounting principles (GAAP) basis, was $1.4 billion or $0.22 per share, which includes stock-based compensation expense related to employee stock options and employee stock purchases of $188 million, net of tax, or $0.03 per share. Net income prior to fiscal 2006 did not include stock-based compensation expense related to employee stock options and employee stock purchases. Including the pro forma stock-based compensation expense previously disclosed in Cisco's financial statements footnotes, net income for the third quarter of fiscal 2005 was $1.2 billion or $0.18 per share. Net income for the second quarter of fiscal 2006, on a GAAP basis, was $1.4 billion or $0.22 per share, which includes stock-based compensation expense related to employee stock options and employee stock purchases of $188 million, net of tax, or $0.03 per share. Please refer to the table on page 11 for a comparison of net income, including the effect of stock-based compensation expense. Net income on a GAAP basis, which does not ...See the full content of this document
Sponsored links
