Featured Stocks
Cisco Systems, Inc. (NASDAQ:CSCO)
Jun 5, 2012
Cisco Systems, Inc. is an American multinational enterprise best known for being the world's leading supplier of computer networking products, systems and services. Founded in 1984 and headquartered in San Jose, California, Cisco has grown from a startup on a tight budget to a Fortune 500 enterprise with annual revenue of $40-plus billion. The company adopted the shortened name "Cisco" in 2006.
Cisco's products are designed around their core focus on the network as the platform for all forms of communications and IT. The company has a diverse product portfolio which includes routers, switches, modems, data and network security and surveillance, wireless systems, remote access devices, network storage systems as well as voice and conferencing solutions. These products are targeted at three market segments including enterprise, small business and the home user. In addition to their product offerings, Cisco provides a broad range of services including technical, developer and advanced services.
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Cisco Systems listed on the NASDAQ (NASDAQ:CSCO) stock exchange in 1994 with a value of $224 million. The company grew to a $1 billion value in 1995 and subsequently to the $40 billion giant it is today. The company's rapid growth can be largely attributed to its innovation through acquisitions strategy. Since 1993, Cisco has acquired 140-plus companies, most of which are related to computer networking including several LAN switching and VOIP (Voice over Internet Protocol) businesses.
In 2009, Cisco was listed on the Dow Jones Industrial proving their influence extended to the overall economy and not just the technology sector.
Cisco invests heavily in research and development. According to their 2011 annual report, 13% of their annual revenue was spent on internal innovation.
The company went through a major restructuring in 2011 that saw almost 10% of its work force eliminated. The layoffs, the largest cut in Cisco's history, were part of a plan set forth by Chairman and CEO John Chambers to create a less complex and more agile organization known as the "Next Cisco". The company exited businesses that weren't within its core focus, e.g. the Flip line of video cameras, as well as streamlined their decision-making processes to become a faster and more agile partner. In the process, the company successfully shaved $1 billion from their annual operating expenses.
The results of the restructuring have been positive. Cisco is currently receiving bullish support from analysts. Their Q3 2012 financial results show record revenues and record non-GAAP earnings per share. Revenue is expected to grow in the range of 2% to 5% on a year-over-year basis.
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