Cisco to Repurchase Additional $10 Billion of Stock

Cisco Systems Inc. said Friday it would buy back an additional $10 billion of its common stock, bringing the total under the program to $62 billion.

Since the inception of the repurchase program in September 2001 through the close of Cisco's first quarter of fiscal year 2008 on Oct. 27, 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.

"We have consistently generated strong cash from operations," said Dennis Powell, CFO of 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."

Cisco’s stock was up 32 cents to $29.62 through mid-morning trading Friday.

Cisco Systems Inc. www.cisco.com