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Why You Should Be Bullish On Cisco
April 11, 2012 | Hogan Keyser
I am certain that we all know Cisco designs, manufactures, and sells internet protocol-based networking and other communication and information technology products worldwide. It is a company that has been with us for some time and is the largest participant in the networking and communications devices industry with a market cap of $109 billion.
The company delivered some solid financial results for the second quarter 2012 with revenue up by 2.4% to $11.5 billion and net income up by an impressive 23% to $2 billion. For this period its balance sheet strengthened with an 80% rise in cash and cash equivalents to $8.6 billion and long-term debt remaining steady at $16.3 billion. Overall these are quite impressive results considering the current economic environment, which is seeing many businesses engage in significant cost cutting in IT and networking, to maintain margins. As Cisco's CEO John Chambers stated; "for the second quarter 2012 Cisco delivered record revenue and earnings per share."
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