Stock Monitor: Finisar Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors.com has just released a free earnings report on Cisco Systems, Inc. (NASDAQ: CSCO) ("Cisco"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CSCO. The Company posted its financial results on February 14, 2018, for the second quarter of the fiscal year 2017 (Q2 FY18). The Company's quarterly revenues and non-GAAP diluted earnings per share (EPS) grew 3% and 11% y-o-y, beating market consensus forecasts. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cisco Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

In Q2 FY18, the San Jose, California-based Company reported revenues of $11.89 billion compared to $11.58 billion in Q2 FY17. The Company's total revenue numbers for the reported quarter outperformed market expectations of $11.8 billion. The Company's product revenues grew to $8.71 billion in Q2 FY18 from $8.49 billion in Q2 FY17, while its service revenues also grew to $3.18 billion in Q2 FY18 from $3.09 billion in Q2 FY17.

The networking and communication devices maker reported a net loss of $8.78 billion, or $1.78 loss per diluted share, in Q2 FY18 compared to a net income of $2.35 billion, or $0.47 per diluted share, in Q2 FY17. Excluding the charge related to the enactment of the Tax Cuts and Jobs Act 2017 (TCJA) of $11.1 billion, the Company's non-GAAP net income stood at $3.15 billion, or $0.63 per diluted share, in the reported quarter, rising from $2.86 billion, or $0.57 per diluted share, in Q2 FY17. Meanwhile, Wall Street had expected the Company to report a non-GAAP diluted EPS of $0.59.

Operating Metrics

During Q2 FY18, Cisco's product cost of sales was $3.35 billion compared to $3.31 billion in Q2 FY17. The Company's services cost of sales came in at $1.04 billion in Q2 FY18 versus $1.00 billion in the last year's same quarter. The Company's non-GAAP gross profit stood at $7.69 billion, or 64.7% of revenues, in Q2 FY18 versus $7.42 billion, or 64.1% of revenues, in Q2 FY17. The Company's non-GAAP operating expenses were $3.91 billion, or 32.9% of revenues, in Q2 FY18 compared to $3.83 billion, 33.0% of revenues, in Q2 FY17. Furthermore, the Company's non-GAAP operating income grew to $3.77 billion, or 31.7% of revenues, in Q2 FY18, up from $3.60 billion, or 31.0% of revenues, in Q2 FY17.

Segment Performance

For Q2 FY18, Cisco's Americas segment's revenues came in at $7.00 billion, up 5% from $6.66 billion in the last year's comparable quarter. The segment's gross margin stood at $4.61 billion, or 65.9% of segment revenues, in Q2 FY18 compared to $4.29 billion, or 64.4% of segment revenues, in Q2 FY17.

Cisco's Europe, Middle-East, and Africa (EMEA) segment's revenues stood at $3.06 billion in Q2 FY18 versus $3.07 billion in the prior year's corresponding quarter. Meanwhile, the segment's gross margin also decreased to $1.98 billion, or 64.6% of segment revenues, in Q2 FY18 from $2.01 billion, or 65.6% of segment revenues, in Q2 FY17.

In Q2 FY18, Cisco's APJC segment's revenues were $1.82 billion compared to $1.86 billion in Q2 FY17. Additionally, the segment reported a gross margin of $1.09 billion, or 60.1% of segment revenues, in Q2 FY18 versus $1.12 billion, or 60.4% of segment revenues, in the year ago same quarter.

Cash Flow and Balance Sheet

During the first six months ended January 27, 2018, Cisco generated cash from operations of $7.15 billion versus $6.50 billion in the year ago comparable period. The Company had a cash and cash equivalents balance of $17.62 billion as on January 27, 2018, compared to $11.71 billion at the close of books on January 28, 2017. Furthermore, the Company had a long-term debt amounting to $25.63 billion as on January 27, 2018, versus $25.73 billion as on January 28, 2017.

Dividend and Share Repurchase

In its earnings press release, Cisco's Board of Directors declared a quarterly dividend of $0.33 per common share, rising by $0.04, or by 14%, over the previous quarter's dividend. The dividend will be paid on April 25, 2018, to all shareholders of record as of the close of business on April 05, 2018.

The Company's Board of Directors has also approved a $25 billion increase to the authorization of the stock repurchase program. The Company has not provided for any fixed termination date for the repurchase program. Furthermore, the remaining authorized amount for stock repurchases, including the additional authorization, was approximately $31 billion.

Outlook

In its guidance for the full year FY18, Cisco's revenues are forecasted to increase in the range of 3% to 5%. For the upcoming quarter, the Company's non-GAAP EPS are expected to be in the range of $0.64 and $0.66.

Stock Performance Snapshot

March 20, 2018 - At Tuesday's closing bell, Cisco Systems' stock slightly rose 0.23%, ending the trading session at $44.37.

Volume traded for the day: 22.64 million shares.

Stock performance in the last month – up 0.09%; previous three-month period – up 16.18%; past twelve-month period – up 29.43%; and year-to-date – up 15.85%

After yesterday's close, Cisco Systems' market cap was at $215.27 billion.

The stock has a dividend yield of 2.97%.

The stock is part of the Technology sector, categorized under the Networking & Communication Devices industry.

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