Earnings per-share were 51 cents on sales of $12.2 billion beating analysts predictions which placed earnings at 49 cents on sales of $12.18 billion. Gross margins were 63 percent with sales experiencing growth in the Americas the most while no change was recorded in EMEA and Asia. The overall growth in sales was 5 percent. Net sales for the first nine months of fiscal 2013 were $36.2 billion, compared with $34.4 billion for the first nine months of fiscal 2012. Net income for the first nine months of fiscal 2013, on a GAAP basis, was $7.7 billion or $1.44 per share, compared with $6.1 billion or $1.13 per share for the first nine months of fiscal 2012. Cisco paid a cash dividend of $0.17 per common share.
The company spent $1.36 billion in research and development in Q3 down from $1.43 billion a year ago. Inventory turns in Q3 were 11.5 compared to 11.1 a year ago. Cisco ended the quarter with $48.4 billion in cash and equivalents with $3 billion generated in cash flow in the quarter.