On Wednesday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), lost -0.43% to $27.90.
Cisco Systems stated its fourth quarter and fiscal year results for the period ended July 25, 2015. Cisco stated fourth quarter revenue of $12.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.3 billion or $0.45 per share, and non-GAAP net income of $3.0 billion or $0.59 per share.
Q4 2015 Highlights
Revenue — Total revenue was $12.8 billion, up 4%. Product revenue and service revenue each raised 4%. In terms of total revenue by geographic segment, Americas was up 7%, while both EMEA and APJC were flat. Product revenue growth was led by Partnershipand Data Center at 14% each. Switching and NGN Routing grew by 2% and 3%, respectively.
Gross Margin — On a non-GAAP basis, total gross margin and product gross margin were 62.1% and 61.0% respectively. The decrease in non-GAAP product gross margin as contrast to the third quarter of fiscal 2015 was driven by pricing and product mix partially offset by productivity. Non-GAAP service gross margin was 65.9%. Total gross margins by geographic segment were: 62.7% for the Americas, 62.1% for EMEA, and 59.5% for APJC. On a GAAP basis, total gross margin, product gross margin, and service gross margin were at 60.2%, 59.0% and 64.5%, respectively.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, counting fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and NGN routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Shares of American International Group, Inc. (NYSE:AIG), declined -0.08% to $63.26, during its last trading session.
Lexington Insurance, a division of American International Group, Inc. (AIG), and the largest excess and surplus carrier in the U.S., recently celebrated the 50th anniversary of its incorporation by hosting a day of giving back at its Boston headquarters.
About 250 employees take partd by volunteering at one of three charities, counting Stop Hunger Now, for which employees packaged about 40,000 meals for those in need overseas. Lexington employees also assisted clean and maintain a local park in Boston and assembled back-to-school kits for children as volunteers for The Esplanade Association and Cradles to Crayon, respectively.
“For 50 years, Lexington has built its reputation on a foundation of serving our customers, a commitment to long-term relationships in the market, and as important, giving back to the community,” says Jeremy Johnson, President and Chief Executive Officer, Lexington Insurance. “We’re very much part of AIG’s tradition of serving our customers and the communities where we operate.”
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally.
Finally, CF Industries Holdings, Inc. (NYSE:CF), ended its last trade with 8.20% surge, and closed at $61.64.
CF Industries Holdings and CHS Inc. (CHSCP) declared that they have agreed to enter into a planned venture. CHS, the nation’s leading farmer-owned cooperative, will make an equity investment in a wholly owned CF partner and also enter into a supply agreement. Under the supply agreement, CHS will be entitled to purchase annually up to a total of 1.7 million tons of UAN and urea at market prices. CHS will purchase a minority equity interest in CF Industries Nitrogen, LLC for $2.8 billion and be entitled to semi-annual profit distributions from CF Nitrogen.
CF Nitrogen presently owns three production facilities in the United States: Donaldsonville, Louisiana; Port Neal, Iowa; and Yazoo City, Mississippi. CF also anticipates to contribute its Woodward, Oklahoma, plant to the LLC preceding to the transaction closing. CF will continue to manage and operate all production facilities.
CF Industries Holdings, Inc. manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company’s principal nitrogen fertilizer products comprise ammonia, granular urea, and urea ammonium nitrate solution. Its other nitrogen products comprise ammonium nitrate, diesel exhaust fluid, urea liquor, and aqua ammonia.
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