Whew.. thought the fat guy fell on me.
NEW YORK (CNNfn) - Cisco Systems, a leading supplier of the equipment used to route traffic over the Internet, said Thursday it is restructuring its business into 11 technology groups and that it sees signs of its business stabilizing.
The San Jose, Calif. company outlined the reorganization in a press release issued after the closing bell, saying it aims to clear up the blurring lines between customer segments. Cisco (CSCO: Research, Estimates) executives also said that the company's current quarter so far is tracking with expectations.
"We are making these changes at a time when we are beginning to see signs that our business is stabilizing," said John Chambers, Cisco's CEO.
"Although we can't predict the future, our orders for the first weeks of this quarter are in line with the expectations we discussed in our fourth quarter earnings call," Chambers added.
Analysts generally are expecting Cisco to report first-quarter earnings of 2 cents per share on revenue of roughly $4.2 billion, according to a survey conducted by earnings tracker First Call. |
