SOURCE: Cisco

November 16, 2007 08:00 ET

Cisco Authorizes Up to $10 Billion in Additional Stock Repurchases

SAN JOSE, CA--(Marketwire - November 16, 2007) - Cisco (NASDAQ: CSCO) announced that at a regularly scheduled meeting of its board of directors on November 15th, the board authorized up to $10 billion in additional repurchases of its common stock, increasing the total authorized amount under the program to $62 billion. There is no fixed termination date for the repurchase program.

"We have consistently generated strong cash from operations," said Dennis Powell, chief financial officer, Cisco. "This allows us to return a significant amount of cash to our shareholders in the form of stock repurchases while at the same time continue to make strategic internal investments and acquisitions to drive future growth."

Since the inception of the repurchase program in September 2001 through the close of Cisco's first quarter of fiscal year 2008 on October 27, 2007, the company had repurchased and retired 2.3 billion shares at an average price of $19.89 per share for an aggregate purchase price of $46.2 billion, with a remaining authorized amount of $5.8 billion.

About Cisco

Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, visit http://newsroom.cisco.com.

This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Cisco that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry and in various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; increased competition in the networking industry; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks, including risks related to our new manufacturing model; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters; natural catastrophic events; a pandemic or epidemic; achievement of the benefits anticipated from our investments in sales and engineering activities; our ability to recruit and retain key personnel; our ability to manage financial risk; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; potential volatility in operating results; and other factors listed in Cisco's most recent report on Form 10-K. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information. Such information speaks only as of the date of this release.

Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. and/or its affiliates in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners.

For direct RSS Feeds of all Cisco news, please visit "News@Cisco" at the following link:

http://newsroom.cisco.com/dlls/rss.html

Contact Information