Cisco Posts Lower Net Profit but Sales Beat Forecasts
Published:
4 February 2004 y., Wednesday
Cisco Systems Inc. (CSCO), the world's largest maker of equipment that directs Internet traffic, Tuesday posted a lower quarterly profit after an accounting charge, but sales rose more than expected as corporate customers boosted technology spending.
It is becoming increasingly clear that the global economy is improving," Cisco President and Chief Executive John Chambers said in a statement.
However, Cisco shares fell 1.2 percent in after-hours trade to $26.10 from a Nasdaq close of $26.41.
Investors see Cisco as a benchmark for corporate and government spending because about 75 percent to 80 percent of its revenue comes from those customers. The rest comes from the telecom sector, where spending by telephone companies appears to be stabilizing and even increasing in areas Cisco serves, including Internet voice transmission.
The San Jose, Calif., company reported a net profit in its fiscal second quarter of $724 million, or 10 cents a share, compared with $991 million, or 14 cents a share, in the year-ago quarter. The quarter included a one-time noncash charge of $567 million, or 8 cents a share, related to a charge for an accounting change related to an acquisition.
Excluding one-time items, Cisco's profit was 18 cents a share.
Sales in the quarter ended Jan. 24 rose by almost 15 percent from last year to $5.4 billion and were up 5.8 percent from the previous quarter.
Šaltinis:
foxnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
During the meeting, which took place on 3 September 2009 the Bank of Lithuania approved the transaction, according to which AB Bank SNORAS will acquire 100 percent of the shares of AB “Finasta įmonių finansai” owning AB bank “Finasta”.
more »
The European Commission tabled yesterday its proposal on fishing possibilities for fish stocks in the Baltic Sea for 2010.
more »
Members of the Civil Liberties Committee voiced concern on Thursday over the interim agreement under negotiation between the EU and the United States on data transfers via the SWIFT network.
more »
Consumers in Cyprus, the Czech Republic, Hungary, Poland, Romania and Slovenia now have access to consumer magazines and websites, which provide independent, comparative testing of consumer products, following a three-year EU project co-financed by the European Commission.
more »
Funds management company “SNORAS Asset Management” will establish the first alternative investment fund in Lithuania - “SAM Renewable Energy Fund”.
more »
The re-launched Lisbon Partnership for growth and jobs has put innovation and entrepreneurship at the centre and called for decisive and more coherent action by the Community and the Member States in view of mastering the shift towards knowledge based low carbon economy.
more »
Helping dairy farmers now, as well as restructuring the dairy sector in the long run, is the way out of the current milk market crisis, Agriculture Committee MEPs told Agriculture Commissioner Mariann Fischer Boel in a debate on Tuesday.
more »
The EU is phasing out traditional light bulbs over the next three years in favour of a new generation of energy-efficient lighting.
more »
Lithuania increases the VAT rate from 19 % to 21 % from September 1, 2009.
more »
Two recent joint missions from three development finance institutions helped Thailand identify low carbon projects that could be eligible for Clean Technology Fund financing.
more »