Cisco Beats Fourth Quarter Analyst Expectations of 45 Cents Per Share ? Revenues Up 4%

Cisco beat fourth quater analyst expectations with net sales up 4% compared to last year. Overall revenues were $11.7 billion with reporting of 47 cents per share. For the year, net sales were $46.1 billion , up 7% compared to last year. Analysts had forecast a profit of 45 cents a share, on revenue of $11.62 billion, according to FactSet. Looking ahead to its fiscal first-quarter, analysts expect a profit of 46 cents and revenue of $11.67 billion, or year-over-year growth of 4%. Net income for the year was $8 billion. Cisco CEO John Chambers warned analysts back in May of a ?cautious IT spending environment? and a ?very slow painful progress? in a market recovery. But that may been an over cautious view for the telecommunications giant.

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