Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Lizzie Tudor who wrote (65034)	11/5/2003 4:38:00 PM
From: Ron	Read Replies (1) \| Respond to of 77400

Cisco Net Rises Sharply As Revenue Increases 5.3% Cisco Systems Inc. reported a sharp increase in earnings, boosted by strength in its core business of switchers and routers. The San Jose, Calif., maker of networking gear posted net income of $1.1 billion, or 15 cents a share, for its fiscal first quarter ended Oct. 25, an 87% increase from income of $618 million, or eight cents a share, in the same period last year. Revenue rose 5.3% to $5.1 billion from $4.85 billion in the year-earlier quarter, beating the company's own forecast. In August, the company predicted first quarter revenue would rise 2% to 4% from $4.62 billion in the fiscal fourth quarter. Excluding costs such as amortization of purchased intangible assets and deferred stock-based compensation, profits rose to $1.18 billion, or 17 cents a share, from $1.04 billion, or 14 cents, in the period last year. Analysts surveyed by Thomson First Call were expecting earnings of 15 cents a share, excluding items, on revenue of $4.86 billion. Cisco Chief Executive John Chambers applauded the company's performance. "We saw strength across our core switching and routing businesses, as well as traction in our advanced technologies. The service provider and public sector segments in particular, continue to be solid markets for our products," he said in prepared remarks Wednesday. Cisco, which makes routers that direct traffic on the Internet, has managed to remain profitable despite slack spending by technology companies following the dot-com bust. This summer the bellwether excited many on Wall Street when it said it was seeing some early signs of a possible economic recovery. CSCO was sharply higher in the after hours market.