Cisco 2011 Annual Report Download - page 6

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4 Cisco Systems, Inc.
Annual Report 2011
Letter to Shareholders
and investments held globally. Cash
generated from operations in fiscal
2011 was $10.1 billion, a significant
portion of which was used to
repurchase 351 million shares of our
common stock and for payment of
our first quarterly cash dividends.
WELL POSITIONED FOR THE
FUTURE
We remain optimistic about our
company’s future. You have our
commitment that the Next Cisco
will be faster; more focused; and,
in our view, even more innovative.
We’ll continue to drive accountability
on many levels—from revenue,
gross margins, and market share to
profitability and strategic direction to
ensure Cisco’s future success.
Moving forward, we believe that we
remain well positioned to capture
market and technology transitions
through the depth and breadth of our
market-leading portfolio. I have the
utmost confidence in our leadership
team, increased discipline, and
strategic roadmap to successfully
drive these transitions with an
architectural approach.
In closing, Cisco is firmly committed
to delivering long-term value to our
shareholders while driving profitable
growth and staying focused on
the success of our customers
and partners. We appreciate your
continued trust, and we thank you for
being a valued shareholder.
John T. Chambers
Chairman & CEO, Cisco
September 2011