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Cisco CEO John Chambers blasted the U.S. Senate vote on repatriation

Is Cisco short of cash in the U.S.?

Submitted by Brad Reese on Mon, 02/16/09 - 5:36pm.

Last week BusinessWeek reported that Cisco will spend $500 million this Friday (Feb. 20, 2009) to pay off debt related to its 2005 purchase of Scientific Atlanta.

According to BusinessWeek:

"That would leave the company with just $2.7 billion stateside—not much for a company that bought back $10 billion of its own chronically range-bound stock in fiscal 2008. Indeed, the company purchased just $600 million of its shares in the quarter that ended on Jan. 31, compared to an average repurchase of $2.7 billion worth of stock in the previous eight quarters."

Cisco's most recent financial report as viewed below is showing $29.5 billion in cash, cash equivalents and investments, but keep in mind that $26.3 billion of this amount is held overseas.

Cisco Cash (in millions) as of Jan. 24, 2009Source: U.S. Securities and Exchange Commission

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