Cisco Systems Beats Expectations
Cisco Systems, Inc. (Public, NASDAQ:CSCO) (NASDAQ: CSCO) reported better than expected revenue forecasts. Althought the companies revenues fell slightly, the company still did well.
The company reported revenues of $9.02 billion dollars, a 12.7% decrease in year over year revenues.
Cisco specializes in high end computer equipment such as routers, switches and other advanced technologies.
Company CEO, John Chambers said the following in a video statement, "The results, given how challenging it was, were pretty solid. When you think about it during the year, we generated almost 10 billion dollars in cash from operations; 36 billion dollars in sales. Our Public Sector and Services both were the two positive lights. Service Provider and Enterprise and Commercial were a little bit more challenging."
Chambers continued, "We also, I think, have taken another step in most of our customer's eyes, in the industry's eyes, in terms of our innovation capability. Innovation in almost everything we do, not just in engineering, with moving and a goal of being the number-one player in each market we enter into, but also in business models, speed of movement, partnering, and continuing a very effective investment in internal startups and acquisitions."
Cisco's stock ended at $23.29 per share on November 4, 2009 and is trading slightly higher in early trading on Thursday, November 5, 2009.
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