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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.61

-0.6%

1:51 PM EST

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To: kvkkc1 who wrote (65970)	8/10/2004 9:46:22 PM
From: t2	of 77400

Is the real concern with Cisco earnings report? See article below. Might not happen but could be enough to cause investors to worry about techs in general. BAck to school related Linksys inventory comments are probably being ignored by this article...maybe because it does not explain the inventory increase in the May quarter. That is what makes me suspicious about their explanation in the other article I posted earlier. Inventory fears harm Cisco David Teather in New York Wednesday August 11, 2004 The Guardian Cisco Systems, the United States bellwether technology firm, last night gave investors the jitters after delivering a warning about rising inventories. Word of increased inventories was one of the first signs of trouble ahead of the internet crash. Cisco said that inventories had risen by 9% in its fiscal fourth quarter from the third quarter. That was in addition to a 20% increase in inventories in the previous quarter. Shares in the company, which makes internet networking equipment, fell from $20.46 to $18.99 in after hours trade on Wall Street. The comments from Cisco overshadowed a 41% increase in fourth quarter profits due to rising demand from corporate customers. The company posted earnings of $1.4bn during the quarter on a 26% increase in sales to $5.9bn. For the full year, Cisco made $4.4bn, up from $3.6bn, on sales of $22bn. Cisco said the improving profits picture was due to its success in maintaining its lead in the routing and switching markets as well as expanding into newer areas such as internet telephony, home networking and security. Cisco expressed confidence in the economic recovery in May when it said it planned to hire an additional 1,000 people, expanding its workforce by 3%. guardian.co.uk

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