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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (17883)	8/10/2004 5:41:14 PM
From: michael97123	Read Replies (2) \| Respond to of 95650

EDIT How bad do you think this is for tech, our stocks, etc? We are talking 14 million dollars based on a gain from this stellar quarter which was above expectations. SAN FRANCISCO, Aug 10 (Reuters) - Cisco Systems Inc. (NasdaqNM:CSCO - News) Chief Executive John Chambers said on Tuesday that he expects revenue in the network equipment maker's current, first fiscal quarter to be flat to up 2 percent from the prior period. Chambers issued the revenue forecast on a conference call to discuss fiscal fourth-quarter results. Chambers' forecast implies revenue of as much as $6.044 billion for the first quarter. Analysts polled by Reuters Estimates had expected Cisco to have revenue in the quarter ending in October of $6.058 billion.

To: Donald Wennerstrom who wrote (17883)	8/10/2004 5:46:14 PM
From: Donald Wennerstrom	Respond to of 95650

Here's the post from CBS.Marketwatch.com on CSCO. cbs.marketwatch.com <<Cisco net up 40% on sales growth By Chris Kraeuter, CBS.MarketWatch.com Last Update: 4:49 PM ET Aug. 10, 2004 SAN FRANCISCO (CBS.MW) -- Cisco Systems boosted its fiscal fourth-quarter net income 40 percent as demand grew for its networking equipment. Sales for the San Jose, Calif.-based company (CSCO: news, chart, profile) surged 25 percent to $5.9 billion. Cisco's shares slipped 2.4 percent to $19.96 in late trading after closing the regular session up 2 percent to $20.46. For the quarter ending July 31, the company reported net income of $1.38 billion, or 20 cents per share. Excluding charges, it earned 21 cents a share. During the same quarter last year, Cisco earned $982 million, or 14 cents per share, on sales of $4.7 billion. Excluding charges, Cisco earned 15 cents a share. Analysts expected earnings, excluding charges, of 20 cents a share and sales of $5.89 billion, according to Thomson First Call's average estimates. Gross margins were 68.4 percent, within a range of 67 to 69 percent the company targeted. Product gross margin was 68.6 percent. During the previous quarter, overall gross margin was 68.8 percent and product gross margin was 69.3 percent. Chief Financial Officer Dennis Powell said the sequential decrease in product gross margin was due to sales discounts and an increase in inventory position. Inventory rose 7.1 percent to $1.2 billion from $1.12 billion in the previous quarter. However, inventory turns, or orders placed and fulfilled in the quarter, improved to 6.4 times from 6.3 times in the third quarter. Operating cash flow was $2.1 billion, down from the company's third-quarter record of $2.4 billion, but up from $1.5 billion in the fourth quarter last year. Cisco repurchased 90 million shares of stock for a total of $2 billion. For the full year, the company spent $9.1 billion to buy back 408 million shares. For the full year, Cisco earned $4.4 billion, or 62 cents a share, on sales of $22 billion. During 2003, Cisco earned $3.6 billion, or 50 cents a share, on sales of $18.9 billion.>>