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From San Jose California does is -- see you again and -- -- ask -- about that called because one of the analysts that we spoke to said.
Wanna -- -- is being a little too optimistic after it is comments last quarter that hurt the -- what do you say that.
-- Sharyl we're going to be very transparent about what we see in the market.
The good news or bad news.
In terms of the quarter it was thirty a record quarter force in terms of revenue.
And the year was outstanding with 7% -- I growth in revenue ended 14% growth in profits.
So the bottom line in my opinion as we did what we told our shareholders -- do.
We -- profits faster than revenue.
We gain share in most people's opinions we came in a hundred million dining million above what the street -- us on revenue and about two cents.
And we were pretty candid that we're very concerned about Europe we think it's -- get tougher before it gets better.
Asia -- okay -- US for Sony -- seen some unique.
-- wait surety to caught a tree and it was just a little bit but it -- see it for another quarter that would guide then begin to get excited.
What -- -- John they're optimistic about the US because last quarter you it added 14100 jobs but half of those went.
Outside of the US they went to emerging market so an -- I know that you spend you talked already about -- that Europe has been tough for you so.
Why not add those jobs here in this country.
We'll share -- two things first of all.
If you look at the GDP growth over the next five years of 21 trillion dollars 85% have -- -- outside the US.
Emerging countries is an area that we need to invest again.
And if you're asking about I'm not proud to be an American company the interest -- -- yes.
And our government would help -- invest more in the US if they do it does get their act together in terms of tax reform.
And allowing this to bring back our foreign earnings just like India every other developed country in the world -- Having said that Cisco controls its own destiny we are gonna move for our growth opportunities are and we feel good about the future with all the appropriate caveats.
Tough John isn't tough were in an election year -- so much rhetoric flying around between.
Mitt Romney President Obama there's talks about a near the evil see you know this be -- CEOs you all should be in dungeon somewhere in chains.
So at this time is it tough to kind of forecast how you want to run the business you wanna expand even at this in the United States.
We've got was negative rhetoric on the campaign trial.
Well two separate issues Cheryl I've been -- CEO for seventeen years our average share what I see.
Regardless the implications trust -- me is everything.
We're probably the last major -- tech company it's been around for 25 years that has the majority of employees still in the US we want to continue that and -- that.
But I think our motto should be more the UK -- Canada.
Prime minister Cameron -- Alistair just two and a half weeks ago for the beginning of the Olympics.
He said Britain is great for business what are we need to do to get you here and keep you here which is what he said a year and a half before.
He delivered on everything he said was gonna happen a year and a half ago.
Prime minister harper up in Canada it's a very pro business environment and it's very much about job creation people make mistakes hold him accountable.
But if we don't get our act together on the economy and get the job growth going again we have no one to blame but ourselves and this is an issue -- addressed within -- Loosening up the pitch from for David Cameron himself that's very interesting let me ask you about -- it has been a lot of acquisitions.
In the space your competitors the categorical have been making acquisitions has been talk about net -- with you can you comment on that.
-- which -- I know that you're gonna ask let me ask it answered -- general terms I can't comment about any company.
But Cisco is -- probably the best and acquisitions like Oracle would say that.
And most acquisitions you do still failing yet Cisco's track record's been extremely good in this area.
In terms of are we going to continue to do innovation through internal development.
Internal startups -- hands partnerships and acquisitions the answers yes -- would do it around Arafat foundational priorities.
All of which are doing -- Be well Arab what are your clients I think it's always fascinating for me anyway I think many on Wall Street to look at your clients and -- and what they're telling you what they're buying -- not buying.
A talk to me about.
Enterprise clients and government clients come what -- seeing right now.
Well what we're seeing Cheryl is we'd moved from -- -- a plumber which I was very proud to be it's a very.
Honorable profession and it's very liberties to been.
Many of the governments and businesses top business advisor as well as a company -- can touch products together to solve this business goals.
No better example than what just occurred in the United Kingdom with prime minister camera on.
In terms the Olympics where we -- infrastructure sponsor.
In BC you have to maintain broadcast to four point two billion people.
Seven and a half months have broadcast.
44 about seven -- six stations Cisco's that the core of making not just the technology work.
But solving our customers' toughest business goals.
-- asking earlier about kind of the global incident again you're the perfect person ask about the global landscape but and hears about emerging markets we have seen some concerns about.
A slowdown in China a slowdown in Japan again a big chunk -- revenue for you is those countries.
And Europe yeah we know we're therapists top it's it's now on negative for you but what about what China particularly if it doesn't there's more opportunity -- freeing.
Well I've been doing business in China for 25 years and if you look at all the emerging countries added together.
Together they're the equivalent of China in terms of the growth opportunities.
I last quarter our business in China grew 17% year over year it tends to be very -- The Chinese -- -- never bet against them.
They remarkably disciplined and their approach during an economic engines going well.
And their business and government works together much like we saw in the UK -- much like we saw in candidate and even in Russia.
I think I'm glad to have you back in the US today John after all the talk about Britain but let me ask -- -- a dividend increase imagine that as I was introducing you today 75%.
And the dividend simple question why now.
Will -- listing to our shareholders our shareholders -- said.
The market's been tough.
Cisco figure out next cheating your peers but we want you to share part of that with us secondly you don't do it when we see markets declining.
And over the last several quarters as you articulate -- properly.
We felt markets we're continuing to decline in our growth rates were in terms of orders even though we're out extremist all of our peers.
We saw our business and it feels like it's leveling out and there's a chance it could turn -- we also saw a number things come together with our confidence going forward.
And we also generated eleven point five billion dollars in cash from operations this last year vs ten billion the year before.
So we feel that we have the capability regardless of repatriation.
To be able to use this money effectively.
But I just hope whoever the next president -- is they get back on how do we create jobs and American how does business -- together to solve these problems.
Because I think we can do it as a country and I'm becoming more convinced.
America must lead the world obvious economic slowdown and force is not gonna happen from China or Japan or India and -- from enough from Europe that leaves I think the burden.
And the opportunity on our country.
Cisco chairman and CEO John thank you so much as I was going to speak to get pleasure from this time.
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