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

To: William F. Wager, Jr. who wrote (21896)	2/3/1999 5:41:00 PM
From: Josef Svejk	Read Replies (1) \| Respond to of 77397

sutro.com

To: William F. Wager, Jr. who wrote (21896)	2/3/1999 6:38:00 PM
From: Zoltan!	Respond to of 77397

Cisco Systems Inc. Dow Jones Newswires -- February 3, 1999 Concerned About Corp. Mkt, Cisco Backs Away From Stk Split By Joelle Tessler NEW YORK (Dow Jones)--While investors were quite pleased with Cisco Systems Inc.'s (CSCO) solid second-quarter results Tuesday, some were disappointed that the company didn't also split its stock. With Cisco's shares trading well above $100 - they hit a new 52-week high of 117 7/8 earlier - many investors believe the stock is ripe for a split. But analysts say the company's decision not to declare one now likely reflects its concern that the pricing pressure and slowing growth facing the entire enterprise networking market could put pressure on Cisco's stock. True to form, Cisco beat Wall Street's consensus estimate for its fiscal second quarter, ended last month, by a penny, earning 36 cents a diluted share on $2.83 billion in revenue. That compares with 29 cents a share, adjusted for a 3-for-2 stock split in September, on $2.02 billion in revenue in the second quarter of last year. Cisco is already the largest supplier of networking equipment to the enterprise, or corporate, market. And the company has been quickly expanding its presence in the fast-growing carrier market, which is made up of telephone companies and Internet service providers. The company said bookings in its service provider business unit rose more than 50% from year-ago levels, driven by strong sales of dial access products in particular. Lazard Freres analyst Michael Duran expects the Cisco's service provider business to grow to be the company's largest unit within two years. Cisco's enterprise business unit, meanwhile, grew 30% year-over-year in the latest quarter. But even while Cisco continues to dominate this business - in part by capturing market share from its competitors - the company warned that the entire enterprise market could be in for a bumpy ride in 1999. wsj.com