John, looks like Cisco had a good quarter, at least for these days, should help tomorrow. Based on these words, I would think Chambers shouldn't cry poormouth too much on the CC, but I'll bet he says he doesn't see the IT spending upturn yet.
"We are very pleased with this quarter's performance, especially our year-to-year profit increase of 264% and quarter-to-quarter increase of 26%," said John Chambers, president and CEO of Cisco Systems. "The combination of our strong market position and solid execution by our team produced results that clearly indicate that Cisco is well positioned when the economy rebounds. Last year was a classic downturn. We took the critical steps to position ourselves for the upturn, and we are beginning to see the very positive results."
Further commenting on Cisco's execution, Chambers added, "From an operational perspective, this quarter was a home run. Our strong results led to gross margins of 63.1%, cash flows of $1.6 billion and inventory turns of 7.5 times, which exceeded our goals. We continue to take market share from our top-ten competitors, with revenue growth of 2% year-over-year versus a drop of 43% for these competitors."
biz.yahoo.com
Tony |
