CISCO UPDATES (briefing)
<<<Cisco Systems (CSCO) 56 1/2 -1/4: -- Update -- On conference call, continues to expect fiscal 2002 sales growth of mid-to-upper 30% range; stock rebounds to 55 in after hours trade.
Cisco Systems (CSCO) 56 1/2 -1/4: -- Update -- On conference call, company ups full fiscal year 2001 estimate by $0.02 from current consensus of $0.71-$0.81.
Cisco Systems (CSCO) 56 1/2 -1/4: -- Update -- On conference call, company ups rev outlook for JanQ01 to high single digit/ low double digit sequential growth and for all of fiscal 2001 to 50-60% yoy, gross margins to decline 50 basis points per qtr; stock currently trading at 51 5/8.
Cisco Systems (CSCO) 56 1/2 -1/4: -- Update -- On conference call, company lists concerns 1) component supply/lead times could be an issue, 2) competition - seeing hundreds of start-ups, however, enterprise and service providers are trending towards the larger players, 3) economic - if economy slows, would expect slower cap-ex spending, 4) service provider spending - seeing spending slowing in US for circuit/voice/IP, however, network spending will be affected to a lesser degree; gross and operating margins were 63.5% and 25.5%, in-line on gross margin but CSCO expects it will continue to decline as it was 64.0% in JulQ, operating margin a bit shy of the Street's expectation of around 26.1%; stock trading at 51 1/2 after hours on heavy volume.>>>
Best wishes,
Jim |
