Lucretius, CISCO GOOD NEWS!
This news release was written and designed just for you. Chew on it
well. You're going to have to come up with more excuses to justify your foolish points:
<<01:45 PM ET 01/09/98
Cisco sees Europe growth in online surge
FRANKFURT, Jan 9 (Reuters) - Cisco Systems Inc , the
world's biggest maker of computer networking equipment, on
Friday highlighted growth in its European business, with more
sales being made online and good prospects due to market
liberalisation.
"Over the last 12 months we have gained significant share in
Europe," James Richardson, president of Cisco Systems Europe,
told Reuters, noting that "business in Europe is going quite
well."
He declined to elaborate ahead of Cisco's second quarter
earnings period ending on January 25, because U.S. regulations
forbid the release of news which could affect the company's
shares during the so-called "quiet period."
But Richardson said European customers were increasingly
using the Internet to order the company's routers and other
networking equipment.
"In the last fiscal month, about 25 percent of our business
in Europe came over the Internet," he said. "By the end of the
fiscal year in July we should be at 50 percent."
Cisco's European Internet sales site should generate more
than $1 billion in sales next year, he said.
Online commerce can often help companies boost profit by
lowering the costs involved in closing sales with customers.
Richardson also said he expected a boost in European
business as a result of the liberalisation of telecommunications
markets across the continent.
"I think growth in the Internet in Europe is going to be
very robust," he said. "As the price of telecommunications comes
down, there is going to be an increase in demand, and as the
Internet grows, we grow."
Deutsche Telekom AG , which operates Europe's
largest online service, is a big customer, he noted.
((Neal Boudette, Frankfurt Newsroom, +49 69 756525,
frankfurt.newsroom@reuters.com)) >>
infobeat.com
As for the other folks who are long, enjoy it. There will be more news
like this coming in the next few weeks. In my mind, this is an indication that earnings will be as expected or better.
TI |
