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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: Wes Stevens who wrote (27366)11/7/2000 7:38:03 AM
From: signist  Read Replies (1) of 42804
 
Cisco Posts Better-Than-Expected Profits

LOS ANGELES (Nov. 6) XINHUA - Cisco Systems Inc., the world's biggest maker of
computer networking equipment, Monday posted first quarter earnings that came in
just above Wall Street expectations and cited sales to Internet service
providers, cable and telephone companies.

For the first quarter of fiscal year which ended October 28, the Silicon
Valley-based Cisco reported net income of 1.36 billion U.S. dollars, or 18 cents
per share, versus 814 million dollars, or 11 cents, in the year-ago period.

The Wall Street analysts estimated 17 cents per share for the quarter, according
to earnings estimate tracker First Call.

News release from Cisco said the company's revenue in the first quarter rose 66
percent to 6.52 billion dollars from 3.92 billion dollars.

Cisco's outlook for the rest of the fiscal year is far more bullish. In a
teleconference with analysts after Monday's earnings release, Larry Carter, the
company's chief financial officer, said sales in the second quarter are expected
to rise in the "high single digits to low double digits" from the first
quarter's 6.52 billion dollars. He said sales in the fiscal year of 2001 are
expected to rise 50-to-60 percent over 2000.

John Chambers, Cisco's president and chief executive officer said the company
has been seeing good balance in all geographies outside the U.S..



Copyright XINHUA NEWS AGENCY

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