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

To: bambs who wrote (42831)	11/7/2000 10:33:51 AM
From: Matt D.	Respond to of 77400

siliconinvestor.com Robertson Stephens Daily Growth Stock Update on CACS, ICPT, PSUN, PNRA, AFFX, BRCM, CSCO, CBST, VERT SAN FRANCISCO, Nov 7, 2000 /PRNewswire via COMTEX/ -- The following is being issued by Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: November 7, 2000 Estimate Changes * * * Cisco Systems, Inc. (Nasdaq: CSCO chart, msgs) ($55.13) Buy Paul Johnson, Communications/Networking Ara Mizrakjian, Communications/Networking "Cisco reported strong fiscal first-quarter results above published expectations; reported earnings of $0.18 per share were above consensus estimates of $0.17 and essentially in line with our estimates for both revenue and earnings - we believe we had the high estimates on the Street," said Johnson and Mizrakjian. "Revenues in the quarter grew 14% sequentially and 68% year-over-year. Year-over-year growth rates continue to accelerate; however, sequential growth rates reversed that trend. Orders in the quarter appeared to be linear, although shipments were more back-end loaded because of tight component availability, leading to a modest increase in DSOs, which remain impressive at 40 days. Cisco beat published estimates for the October quarter, for both revenues and earnings. As a direct consequence of Regulation Fair Disclosure, management guidance was more forthcoming than usual. The company increased its outlook for growth, raising its forecasted growth expectations to 50 to 60% for fiscal 2001; prior guidance had placed the growth at 30 to 50%. We remain among the highest estimates on the Street. We are not changing our estimates, but fully expect Street consensus to approach our estimates."