Cisco on the Plus Side

 
 
By Matthew Hicks  |  Posted 2002-05-08 Email Print this article Print
 
 
 
 
 
 
 

The company continued a slight rebound in its third quarter, increasing sales 2 percent and posting a slight profit after suffering wide losses last year.

Cisco Systems Inc. continued a slight rebound in its third quarter ended April 27, increasing sales 2 percent and posting a slight profit after suffering wide losses last year. The San Jose, Calif., networking company, which announced earnings Tuesday, said that net sales for the quarter were $4.8 billion, up from $4.7 billion in the same quarter a year earlier and the same as the second quarter of fiscal 2002. Net income followed a similar trend as Cisco earned $729 million in the third quarter, or 10 cents a share. That was a flip-flop from the companys position for the same quarter a year ago when it lost $2.7 billion, or 37 cents a share.
Cisco cited as the reason for its improvements belt tightening as well as a focus on making market share gains by growing 10 percent faster than 10 of its competitors. President and CEO John Chambers also said he expects flat, or slight, growth to continue for Ciscos current fiscal quarter. Those results will be announced on Aug. 6.
Chambers said in a statement that the positive results "indicate that Cisco is well positioned when the economy rebounds." "We took the critical steps to position ourselves for an upturn," he said, "and we are beginning to see the very positive results." Related stories:
  • Cisco Rolls Out Switches, Software Upgrades
  • Cisco Unveils 14 Routers, Pair of Acquisitions
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    Matthew Hicks As an online reporter for eWEEK.com, Matt Hicks covers the fast-changing developments in Internet technologies. His coverage includes the growing field of Web conferencing software and services. With eight years as a business and technology journalist, Matt has gained insight into the market strategies of IT vendors as well as the needs of enterprise IT managers. He joined Ziff Davis in 1999 as a staff writer for the former Strategies section of eWEEK, where he wrote in-depth features about corporate strategies for e-business and enterprise software. In 2002, he moved to the News department at the magazine as a senior writer specializing in coverage of database software and enterprise networking. Later that year Matt started a yearlong fellowship in Washington, DC, after being awarded an American Political Science Association Congressional Fellowship for Journalist. As a fellow, he spent nine months working on policy issues, including technology policy, in for a Member of the U.S. House of Representatives. He rejoined Ziff Davis in August 2003 as a reporter dedicated to online coverage for eWEEK.com. Along with Web conferencing, he follows search engines, Web browsers, speech technology and the Internet domain-naming system.
     
     
     
     
     
     
     

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