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

To: Zoltan! who wrote (27516)	8/11/1999 10:32:00 AM
From: Zoltan!	Respond to of 77400

Wednesday August 11, 9:55 am Eastern Time Company Press Release SOURCE: BancBoston Robertson Stephens BancBoston Robertson Stephens Reiterates Buy Rating on CSCO SAN FRANCISCO, Aug. 11 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens managing director and senior communications/networking analyst Paul Johnson today reiterated his Buy rating on Cisco Systems Inc. (Nasdaq: CSCO - news). The company, headquartered in San Jose, Calif., is the largest networking vendor. ''We are reiterating our Buy rating on Cisco following the company's announcement of strong-fiscal-fourth-quarter financial results,'' said Johnson. ''Cisco reported earnings-per-share of $0.21, $0.01 above consensus estimate of $0.20. Revenues grew an impressive 12.7 percent sequentially, representing the seventh quarter in a row of accelerating revenue growth. ''In our view, the revenue growth was fueled by strong demand for switching products, both LAN and ATM, accelerating revenue from router products, particularly into the carrier market, and impressive-initial demand for the MGX8800 and the Catalyst 4000/6000,'' said Johnson. ''We are raising our fiscal 2000 earnings-per-share estimates from $0.96 to $1.11 to reflect better-than-expected financial performance in the July quarter, new-higher assumptions related to sequential-revenue-growth rates, greater operating profitability due to the strong-operating-expense controls in the fourth quarter and lower tax rates for fiscal 2000,'' said Johnson. ''In addition, we are initiating a 2001 earnings-per-share estimate of $1.53,'' said Johnson. ''We suspect that consensus estimates will increase in response to the fourth-quarter results.'' biz.yahoo.com