Cisco announces strong Q4 results

NEWS Cisco Systems yesterday reported strong fourth quarter results, taking its full year earnings to $12.15bn - a 43 per cent growth on last year. Fourth quarter sales were up 48 per cent to $3.55bn with net profits at $635m, compared to $493m in the same quarter last year. Cisco stated that the net profits reflect a one-off cost for the acquisition of Amteva Technologies for $181m. The company's CEO, John Chambers, put the strong growth down to the rise of the Internet and claimed Cisco is now the fastest growing and most profitable company in the history of the computer industry. Chambers reaffirmed Cisco's intention to invest $1bn in KPMG's Internet services business, as well as its commitment to New World Internet communications. Cisco's shares rose on the news, up $2.25 this morning on a yesterday's close of $58.75.