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Cisco nets $2.7bn profits

By Graham Hayday

Published: 9 August 2000 08:10 GMT

Cisco has posted strong results in its latest financial quarter, reporting profits of $796m - up from $605m for the same period last year. Net income for the year ending 29 July stood at $2.67bn, up from just over $2bn in fiscal 1999.

The networking giant generated sales of $18.9bn over the 12 month period, up 55 per cent from last year.

John Chambers, president and CEO of Cisco Systems, said in a statement: "We were very pleased with the balance of our business across all key geographies, products and lines of business."

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