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Cisco Profit Takes a Dive in Q4

Cisco’s sales climbed slightly, but their net income took a hit from the previous year’s figures. Profit for the fourth fiscal quarter dropped one-third from Q4 of the previous year, and sales only rose by 3.3 percent, as reported by the company on Wednesday.

Net fourth quarter income ended on June 30th, and sat at $1.2 billion, down over 36 percent from the previous year’s figure of $1.9 billion. Earnings for each share declined as well, by over 33 percent, to 22 cents a share, down from 33 cents a year ago.

These results come in the middle of a complete restructuring at Cisco, intended to refocus the company on base business like switching and routing.