Cisco reported revenues of USD 10.75 billion for its fiscal first quarter to 30 October, up 19.2 percent from a year earlier. Net profit rose to USD 1.9 billion or USD 0.34 per share, from USD 1.8 billion or USD 0.30 per share. Cash flow from operations increased to USD 1.7 billion from USD 1.5 billion a year ago, and Cisco finished the quarter with total cash of USD 38.9 billion. Cisco said results were solid despite the challenging economic environment. Product orders were up 7 percent in the US and Canada, 2 percent in Europe, 32 percent in emerging markets and 18 percent in Asia Pacific, giving the company total growth of 10 percent year-on-year. Across customer groups, orders were strongest from the enterprise and commercial sectors, up respectively 16 percent and 13 percent, while service provider orders rose 8 percent and the public sector grew 6 percent. Consumer orders were unchanged year-on-year. Overall, the product book to bill ratio was less than 1, and Cisco said it saw capital spending moderate in some areas of its business. The company said it plans to "power through the short term challenges" in parts of its business, including weakness in the public sector, service provider and European business.
