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

To: david jung who wrote (10518)	11/18/1997 5:40:00 PM
From: w2j2	Respond to of 77400

He said recent estimates that electronic commerce will generate anywhere from $20 billion to $300 billion by the beginning of the millennium are way too small and electronic commerce could reach $1.5 trillion in revenues by 2000-2001. Chambers told reporters afterward that most of the growth in electronic commerce will be fueled by business-to-business transactions, and that currently, 39 percent of Cicso's orders for products, such as networking equipment, are placed by customers over the Internet. "By the year 2000, we could be in the range of $15-20 billion if we are successful," Chambers said. In fiscal 1997, Cisco's revenues were $6.5 billion. Chambers also said the networking giant's business in Asia has now become its slowest growing, as a result of the Asian currency crises. He said Asia represented 12 percent of total revenues in the most recent first quarter, versus 16 percent previously, and it has now become Cisco's slowest growing business. He declined to specify further how the slowdown in the Asian markets would affect its earnings. "We are seeing many countries in Europe starting to pick up (capital) spending," Chambers added. He said that while the Asian markets represent a challenge to Cisco, China is still a booming market, and the U.S. still represents its fastest growing market. "We don't see the U.S. slowing down." He declined to make any projections about the company's second fiscal quarter. Last week, Cisco reported earnings per share of $0.59 a share in its first quarter, excluding a write-off for purchsed research and development, compared with $0.47 a year ago. Revenues rose to $1.9 billion from $1.4 billion over the same period.