Another interesting read on CSCO
moneycentral.msn.com
True to his cautionary remarks from Davos a week or so ago, Cisco Systems (CSCO, news, msgs) Chairman John Chambers gave a second-quarter report that, while strong, showed the slowdown caused by OPEC/Greenspan Effects -- missing expectations for the first time in 14 straight quarters.
Here are the numbers: pro-forma profit was $1.33 billion, up 48% from $897 million year over year. Revenues were up 55% year over year, from $4.36 billion to $6.75 billion (pro forma numbers exclude acquisition-related charges, stock options-related charges and minority investment proceeds). Actual net income was $874 million, up 7% from $816 million year over year.
While the quarter was quite strong given the current headwinds, and although Cisco's typical acquisition track continued unabated through the quarter, the aspect of Cisco's progress I find most interesting is its move into the other "end" of "end-to-end" networking. Specifically, Cisco is now scoring large wins for the installation of Voice Over IP (VoIP) telephones per se, in addition to the networks to allow them. This brings the company to a level of integration that perhaps no one else in this sector can offer.
(Just part of article) |
