Rochester, NY 8/7/2009 9:42:14 PM
Cisco Systems, Inc., CSCO - Viewpoint Clearing but Still Overcast
Cisco Systems, Inc.
Cisco Systems, Inc., CSCO
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Cisco Systems the dominant maker of networking gear. So it was welcome news for investors when CEO John T. Chambers hinted at brighter days ahead after Cisco reported fiscal fourth-quarter earnings on Aug. 5.
Although sales in the quarter ended July 31 fell 18% from a year earlier, to $8.5 billion, Chambers said he expects sales in the current quarter to rise 1% to 3% from the quarter that just ended. That's a tad better than the flat sequential sales growth the company normally sees this time of year. So while revenues should fall about 14% this quarter from the same period a year earlier, the return to normal seasonal patterns is significant.
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