Cisco steers disrupted but steady course during pandemic
Cisco earned almost $32.5 million in revenue for the year ending 31 July 2021, a slight drop from the $36 million it earned in the previous year. Revenue is drawn from services provided to contract with customers.
After expenses, the company earned profit before tax of $2.8 million, down from $4 million in 2020. Income tax expenses dropped in 2021 to 781,884, down from almost $1.17 million in 2020.
The company recorded a final profit of $2 million, down from almost $2.9 million in 2020.
The company’s financial report also acknowledges the impact of the COVID pandemic on its operations.
“The company has remained operational since this declaration and continues to provide goods and services to its customers.
“The outbreak and the response of governments in dealing with the pandemic is interfering with general activity levels within the community, the economy and the operations of the company. The scale and duration of these developments remain uncertain as at the date of this report.”
“In preparing these financial statements the directors have considered the impact of COVID-19 on the company’s assets and liabilities, including potential impairment of financial assets and property, plant and equipment. It is the directors’ assessment that COVID-19 has not significantly impacted the operations of the company and the results reported within the financial statements for the year ended 31 July 2021.”