Wednesday October 28, 11:39 pm Eastern Time
Cisco predicts 25 pct revenue growth
BUENOS AIRES, Oct 28 (Reuters) - A top official at U.S.-based Cisco Systems Inc (Nasdaq:CSCO - news), the world's biggest computer network equipment vendor, said Wednesday company revenues will likely rise to more than $10 billion in the current fiscal year.
''We don't provide projections other than to say that our expectation is that we will grow at a rate of 25-plus-percent,'' John Morgridge, chairman of Cisco's board, told Reuters in an interview in Buenos Aires, referring to revenues.
''If you do that calculation it says that this year we will do over $10 billion,'' he said.
In the fiscal year ended July, Cisco reported revenues of $8.46 billion, up 31 percent on the prior period.
''You will get a better insight when we release our first quarter earnings,'' Morgridge said. The company is expected to announce those results on November 4.
When asked where that growth will come from, he said: ''Our strength is based on very good business to the service provider market.''
When the company reported fourth quarter earnings in August, it said it continued to gain market share at the expense of competitors across its range of businesses, which include data network products for companies, phone company service providers and small and medium businesses.
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