Like many of its competitors, Cisco’s quarterly and year-end financial results show the upsides and downsides of the current economy — record orders for new products alongside record backlogs.

Cisco reported that for the period ending July 30, its quarterly revenue was virtually unchanged from a year earlier at $13.1 billion, but fiscal 2022 revenue rose three percent to $51.6 billion.

“Full-year product orders and backlog are at record highs,” Cisco CEO Chuck Robbins said in a written statement ahead of the company’s quarterly and year-end telephone briefing on Wall Street.

The company said the order backlog is due to supply chain issues facing the entire industry and that it is addressing them on many fronts, including reengineering products with components that are more readily available.

Cisco executives didn’t provide a dollar figure, only to say that “our product backlog was a record for the year,” and the software backlog was still more than $2 billion, a number reported last quarter. Cisco said in May that their backlog was over $1.5 billion, so it has increased since then.

And while the backlog is growing, Robbins told financial analysts that things are starting to look better, albeit gradually. “After a challenging April due to the COVID-related shutdowns in Shanghai and the impact on semiconductors and power supplies, overall supply constraints began to ease slightly in the back half of the fourth quarter and continued into early Q1,” he said.

Copyright © 2022 IDG Communications, Inc.

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