Cisco issues grim profit, sales warning

Article Abstract:

Cisco Systems confirmed fears of financial analysts worried about how the downturn will affect corporate earnings by projecting a revenue drop of 30% from the previous quarter to $4.75 billion. The company also announced a $2.5 billion charge against earnings for excess inventory, a workforce reduction of 8,500 resulting in a $300-500 million charge and a facilities consolidation resulting in a charge of $200-300 million. Cisco also forecast that fourth quarter income would drop a further 10%.

Supply and demand, Bridge/routers, Bridge/router, Bridge routers (Network hardware), Bridges (Network hardware), Routers (Network hardware)

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Cisco Systems, a networking leader, posts higher revenue and earnings

Article Abstract:

Cisco Systems announced a 30% net income jump of $336.5 million, or 48 cents a share, for the 1st qtr 1998 ended Oct 25, 1997. By comparison, the computer-networking gear manufacturer earned $180.9 million, or 26 cents a share, in the 1st qtr 1997. San Jose, CA-based Cisco's sales totaled $1.86 billion, up from $1.43 billion in 1997. A special acquisition-related charge prevented Cisco from net earnings of $415.6 million, or 59 cents a share. The share amount would have exceeded Wall Street projections of 58 cents, according to First Call. Cisco's results indicate a rebound in the $15 billion computer-networking market, plus its success in rising above the competition. The company is earning nearly 54% of the entire networking industry's profit, up from 48% in 1997, according to Robertson Stephens. Cisco also is drawing 44% of the industry's revenue, compared to 41% in 1997.

Company sales/revenue, Company sales and earnings, Company earnings/profit

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Cisco Systems posts 53% jump in net on sales rise due to Internet's growth

Article Abstract:

Cisco Systems Inc. keeps on charming Wall Street with its growth in revenues and profits; net income rose 53% in FQ1, sales rose 38%. Even though the Asian economy has affected many businesses, including high tech, Cisco's steady success may be attributable to the Internet market that fuels the need for its switches and routers. Equipment the company has begun selling to ISPs and phone companies is also doing well.

Sales, profits & dividends, Abstract, Data communications, Telecommunications transmission technologies

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