Cisco: ‘Our best years are ahead of us’

Cisco’s new CEO Chuck Robbins has spoken about the future of the business as the networking firm publishes its fiscal earnings report for 2015.

Total revenue for the year rose four per cent to $49.2 billion (£31.5 billion). Net income was $9 billion (£5.7 billion), up from $7.8 billion (£5 billion) the prior year. 

During its fiscal Q4, revenue rose four per cent to $12.8 billion (£8.2 billion), and operating income increased seven per cent to $2.9 billion (£1.86 billion).

"I’m stepping into the CEO role at an incredibly exciting time for Cisco," said Chuck Robbins, who was named CEO at Cisco on July 26th.

"We closed out our fiscal year with record revenues and record non-GAAP EPS, for both Q4 and FY15. I’m particularly pleased with the strong growth of deferred revenue which shows we are very effectively driving our business to a more predictable software-based business model, at the same time as growing revenues and earnings.

"These strong results show what we are capable of when we’re focused, and you can expect us to continue to drive the evolution of our portfolio to maximize the value we bring to customers in today’s rapidly changing market.

"The network’s strategic role at the center of everything becoming digital – today and in the future – is why I strongly believe Cisco’s best years are ahead of us."

Other highlights from the report include details of acquisitions.

Cisco says it will continue to refocus its investments in service provider video, towards cloud and software-based services.

The company announced it had agreed to sell the client premises equipment portion of its Service Provider Video connected devices unit to French-based Technicolor for around $600 million in cash and stock. 

It expects the transaction to close at the end of its fiscal Q2 2016.

Cisco’s EMEA revenues during its 2015 fiscal year grew three per cent to $12.3 billion (£7.87 billion).

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