Cisco says it's back on track after record earnings

Cisco said that it achieved record level revenue and earnings per share

Cisco has described its 3Q FY2010 as "probably the strongest quarter in its history", with net sales of $10.4bn (£7.05bn), surpassing last year’s result of $8.2bn..

This marks an increase of 27 per cent. However, the company admitted that 2010’s third quarter was over a 14-week period, compared with 13 weeks in the third quarter of 2009.

In terms of net income, the company made $2.2bn, an improvement of over 60 per cent on last year’s figures from the same period.

John Chambers, chairman and CEO of Cisco, described the results as “outstanding”, claiming the firm achieved record level revenue and EPS results.

“We witnessed a return to strong balanced growth across geographies, products and customer segments that we haven't seen since before the global economic challenges began.

We emerge from this downturn gaining market share, a larger share of the total wallet spend of our customers, dramatically improved customer relations as a trusted technology and business partner, and with next-generation products in almost every product category," he said.

“From almost every measurement perspective – revenues, earnings per share, new products, successful acquisitions and internal startups – our results in Q3 were the proof points that our strategy is working and was probably the strongest quarter in our history."