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To: Frederick Langford who wrote (15669)	11/5/2001 4:32:29 PM
From: Tom Hua	Read Replies (2) \| Respond to of 19633

Fred, looks like CSCO pulled rev from current quarter into last. Regards, Tom 16:31 ET Cisco Systems (CSCO) 17.90 +0.64: -- Update -- Inventories were a relative bright spot in the CSCO report; inventories fell sequentially to $1.3 bln from $1.68 bln. It also appears that Cisco was able to make use of $290 mln in inventories that were previously written off. One possible negative, however, is that deferred revenue fell to $2.78 bln from $3.21 bln in the Jul qtr. 16:27 ET Cisco Systems (CSCO) 17.90 +0.64: -- Update -- Cisco reported an Oct qtr pro forma profit of $0.04, two cents better than the consensus; revenues were $4.448 bln, up 3.5% sequentially and better than the $4.17 bln Multex consensus.