Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Freeflight who wrote (27402)	8/10/1999 5:17:00 PM
From: Vendit™	Read Replies (1) \| Respond to of 77399

From Bloomberg: Top Financial News Tue, 10 Aug 1999, 5:05pm EDT Cisco's 4th-Qtr Profit Rises on Sales to Phone Companies, Small Businesses By Scott Lanman Cisco's 4th-Qtr Profit Rises on Sales to Phone Companies San Jose, California, Aug. 10 (Bloomberg) -- Cisco Systems Inc., the No. 1 maker of Internet equipment, said fiscal fourth- quarter profit rose, driven by sales to phone companies and small and mid-size businesses. Net income rose to $635 million, or 18 cents a share. That compares with a pro forma $525 million, or 16 cents, in the year- earlier quarter. Revenue in the period ended July 31 rose 48 percent to $3.55 billion from $2.4 billion. Cisco is benefiting as telecommunications companies update their networks to handle Internet and data traffic. Such sales contribute about a third of Cisco's revenue. The company also sold more equipment to smaller businesses, one of the fastest growing networking markets. ''They're pretty much firing on all cylinders,'' said Michael Cristinziano, an analyst at Gerard Klauer Mattison & Co. in New York, who rates Cisco shares ''buy.'' Cisco shares fell 1 1/16 to 58 3/4 before the report. They've risen about 27 percent this year. Net income includes the writeoff of purchased in-process research and development and acquisition-related costs. Without those costs, profit in the recent quarter was $727 million, or 21 cents a share. Analysts polled by First Call Corp. expected profit of 20 cents. Some unpublished estimates were as high as 21 cents for the San Jose, California-based company.