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

To: Zoltan! who wrote (35029)	5/9/2000 4:39:00 PM
From: Road Walker	Read Replies (1) \| Respond to of 77400

Tuesday May 9, 4:27 pm Eastern Time Cisco 3rd-qtr profits rise as sales surge 55 percent SAN FRANCISCO, May 9 (Reuters) - Cisco Systems Inc. (NasdaqNM:CSCO - news) on Tuesday reported third-quarter operating profits that rose 58 percent while sales surged 55 percent as the biggest maker of data networking equipment sold more Internet gear to businesses, telephone and cable companies and Internet service providers. For the period ended April 29, Cisco said it had earnings before one-time items of $1.03 billion, or 14 cents a share, up from $649 million, or 9 cents, a year ago. Sales rose to $4.92 billion from $3.17 billion. The results topped analyst forecasts of 13 cents a share, according to First Call/Thomson Financial. Even though Cisco stock fell 7 percent on Monday amid investor concern over its valuation and acquisition strategy, the shares have soared 131 percent in the last 12 months, more than double the gain of the Dow Jones Communications Technology Index. Cisco is benefiting from the rapid roll-out of the Internet and its embrace by governments and businesses. Including one-time items, Cisco said it had net income of $662 million, or 9 cents a share, compared with $636 million, or 9 cents a share, in the year-ago period. This was the ninth quarter in a row the company has reported operating profits that topped analyst forecasts by precisely one penny. On an unofficial basis, Cisco stock ended the day unchanged at 62-3/4. --------------------------------------------------------------------------------