Cisco today announced its fourth quarter and fiscal year results for 2012, showing a rise in both sales and the resulting income.
Sales for the quarter rose a modest 4% year-on-year to reach $11.7bn, but over the entire year Cisco recorded a 7% increase from 2011 to hit $46.1bn.
This equated to net income of $1.8bn for the fourth quarter – up 56% from the same quarter in 2011, but down from $2.2bn in the previous three months – and $8bn for the year – a rise of 24% year-on-year.
Cisco CEO John Chambers claimed the company's strategy of providing network and datacentre solutions on integrated products had seen the company through tough economic times and was the right path for the long term.
However, he said he knew the firm needed to keep up with the pace if it was to continue to compete.
"There is no question that our industry and our world are evolving quickly, [but] Cisco is squarely at the centre of major technology market transitions – cloud, mobile, visual, virtual and social," said Chambers.
Cisco completed two acquisitions over the year. First was ClearAccess, which provides software to service providers for managing home networks and mobile devices. Second was Truviso, which enables analysis of network data. It also signed an agreement with Citrix to join forces in their channel strategies.
In Cisco's last results filing, Chambers claimed the Euro crisis would affect figures for the year. "We are still in an uncertain environment economically," he said during the results call, blaming European economic issues and fears around a lack of growth in India for the climate.
He tried to reassure those listening to the call, however, adding it would "muddle through" with a few "bumps on the road".
