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To: shawn deng who wrote (2847)	11/20/1997 1:26:00 AM
From: joe feirouz	Respond to of 6980

Wednesday November 19 7:05 AM EST Cisco Could Hit $20 Bil in Revenues by 2000 LAS VEGAS (Reuters) - Electronic commerce is growing at such a speed that networking giant Cisco Systems Inc. could see revenues of $15 billion to $20 billion by the year 2000, according to President and Chief Executive John Chambers. He told the COMDEX computer trade show in Las Vegas that current estimates for electronic commerce, which includes selling over the Internet, are vastly under estimated. "Network commerce will grow faster than people realize," Chambers said in a keynote address that compared the "Internet revoltion" to the Industrial Revolution. He said recent estimates that electronic commerce will generate anywhere from $20 billion to $300 billion by the beginning of the millennium are 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 orders for Cicso's products, such as networking equipment, are placed by customers over the Internet. "By the year 2000, we could be in the range of $15 (billion) to $20 billion, if we are successful," Chambers said. In fiscal 1997, Cisco's revenues were $6.5 billion. Chambers also said that the company'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 Cisco's total revenues in the most recent first quarter, compared with 16 percent previously. He declined to specify any further how the slowdown in the Asian markets would impact its earnings. He said that while the Asian markets represent a challenge to Cisco, China is still a booming market, and the United States still represents its fastest growing market. "We don't see the U.S. slowing down," he said. "We are seeing many countries in Europe starting to pick up (capital) spending," Chambers added. He declined to make any projections about the company's second fiscal quarter. Last week, Cisco reported earnings per share of 59 cents in its first quarter, excluding a write-off for purchased research and development. ^REUTERS@