August 10, 2004 - (HostReview.com) - Systems, Inc., the worldwide leader in networking for the Internet, today reported its fourth quarter and fiscal year results for the periods ended July 31, 2004.

Net sales for the fourth quarter of fiscal 2004 were $5.9 billion, compared with $4.7 billion for the fourth quarter of fiscal 2003, an increase of 26.0 percent, and compared with $5.6 billion for the third quarter of fiscal 2004, an increase of 5.4 percent.

Net income for the fourth quarter of fiscal 2004, on a generally accepted accounting principles (GAAP) basis, was $1.4 billion or $0.20 per share, compared with $982 million or $0.14 per share for the fourth quarter of fiscal 2003, and compared with $1.2 billion or $0.17 per share for the third quarter of fiscal 2004.
Net sales for fiscal 2004 were $22.0 billion, compared with $18.9 billion for fiscal 2003, an increase of 16.8 percent.

Net income for fiscal 2004, on a GAAP basis, was $4.4 billion or $0.62 per share, compared with $3.6 billion or $0.50 per share for fiscal 2003.

"This was a record-breaking quarter for Cisco on a number of financial and operational levels, including generating the highest GAAP and pro forma net income and earnings per share in the company's history," said John Chambers, Cisco president and CEO. "The investments we've made in emerging markets around the world, coupled with continued innovation in our core business and advanced technologies, are generating record results."

Chambers continued, "Fiscal 2004 has truly been a breakaway year for Cisco. Our strategy has produced solid results across multiple categories, with profitable growth generation resulting in a year-over-year increase in quarterly revenue of 26 percent, strong balance across market segments and geographies, as well as clear momentum in multiple product categories and our Advanced Technology markets."

Cisco will discuss fourth quarter and fiscal year 2004 results and business outlook on a conference call and Webcast at 1:30 p.m. Pacific Time today. Call information and related charts are available at http://investor.cisco.com .