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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.99

+0.2%

Jan 12 3:59 PM EST

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To: JakeStraw who wrote (64259)	7/9/2003 12:38:09 PM
From: William F. Wager, Jr.	Read Replies (1) of 77400

JC misinterpreted.... story.news.yahoo.com CHICAGO (Reuters) - Cisco Systems Inc. (Nasdaq:CSCO - news) officials on Wednesday said comments attributed to Chief Executive John Chambers about an imminent recovery in the technology sector were misinterpreted by a Dutch newspaper. Dutch daily Het Financieele Dagblad quoted Chambers as saying corporate spending on information technology would recover in the next two to four months. But Cisco spokeswoman Robyn Jenkins-Blum said Chambers actually said companies would start spending on information technology two to four months after their business turns up. "There is nothing new in what John has been saying the last several quarters," Jenkins-Blum told Reuters. The Dutch paper had no immediate comment. According to Jenkins-Blum, Chambers actually said the timing of a recovery was unknown, but when spending did recover, it would start with small- to medium-size businesses, followed by some large corporate customers and then telephone companies two to six quarters after the corporations. Chambers made similar remarks at a Thomas Weisel conference in June. Chambers spoke to about 30 members of the European media at the company's San Jose, California, headquarters on Monday, but he did not say when a recovery in information technology spending might occur. No other reporters at the meeting that she knows of have written anything yet about what was said, she added.

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