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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: bonnuss_in_austin who wrote (12688)	4/16/2001 4:47:03 PM
From: mishedlo	Read Replies (2) \| Respond to of 13572

Now Now contain yourself. Note it will take Pro Forma results JUST TO SHOW A TINY PROFIT! Further note inventory writeoff will be 1/2 last years profits. This sucker is headed for single digits, deservedly so. ============================================================ Due to continued global economic challenges, the slowdown in the global telecom market, and the deceleration in corporate IT spending, Cisco expects revenue for its fiscal third quarter to be down approximately 30 percent sequentially from fiscal second quarter, which was $6.7 billion. The Company expects to be profitable for the third quarter, with pro-forma earnings per share expected to be in the very low, single-digit range. As global economies and capital spending inevitably turn around, the Company's long-term expectations for its segment of the IT industry remain at 30 to 50 percent growth per year. ``The business environment that our segment of the IT industry is facing has never been more challenging,' said John Chambers, president and CEO. ``In fact, this may be the fastest any industry our size has ever decelerated, which has required us to make difficult business decisions at an unprecedented speed. During this time we have not changed our long-term vision and business strategy for the next three to five years, realizing there will be periods of growth in our industry segment both above and below expected levels. ``Personally, of all the difficult decisions we've had to make, the toughest was the reductions in headcount,' said Chambers. Cisco expects to take a restructuring charge of approximately $800 million to $1.2 billion during the fiscal third quarter, associated with the restructuring of certain areas of Cisco's business. biz.yahoo.com

To: bonnuss_in_austin who wrote (12688)	4/16/2001 5:10:23 PM
From: pbull	Read Replies (1) \| Respond to of 13572

Kudos, Bonnuss. Here's a tip: When trying to time these things, watch Clarence Barron. Yes, I know he's dead. Sort of. Actually, ol' Clarence is still kicking, or at least an artist's rendering of him appears weekly on the cover of the Money Week section of Barron's. When Clarence has his cane pointed skyward, buy. When Clarence has a distraught look on his face and the index finger on his left hand is pointed down, sell. Clarence flashed the ol' sell signal over the weekend. Well, it sure beats watching CNBS. PB