HenryTo
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Joined: 06 Aug 2004
Posts: 11732
Location: Los Angeles, California
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 Posted: Tue May 10, 2005 2:54 pm Post subject: Cisco Third-Quarter Earnings Rise Slightly |
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Whether the uptrend will resume will depend a lot on the reaction to the CSCO's and DELL's earnings. Keep in mind that the DELL earnings report comes out this Thursday evening.
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Cisco Third-Quarter Earnings Rise Slightly
Tuesday May 10, 4:35 pm ET
By Matthew Fordahl, AP Technology Writer
Cisco Third-Quarter Earnings Rise Slightly While Sales Jump More Than 10 Percent
SAN JOSE, Calif. (AP) -- Cisco Systems Inc.'s fiscal third-quarter profits rose slightly while sales jumped more than 10 percent as the maker of network equipment continued to see momentum both in its core router business and in its emerging technology segments.
For the three months ended April 30, the San Jose company earned $1.4 billion, or 21 cents per share, compared with $1.2 billion, or 17 cents per share, in the same period last year.
Sales rose 10.1 percent to $6.19 billion in the third quarter of fiscal 2005 from $5.6 billion last year.
Excluding special items, Cisco earned $1.5 billion, or 23 cents per share, compared with $1.36 billion, or 19 cents pre share in the same period last year.
On that basis, the results beat Wall Street expectations. Analysts were expecting the company to post a profit of 22 cents per share on sales of $6.16 billion, according to a survey by Thomson Financial.
"The long-term momentum we are seeing across product families, geographies and market segments clearly points to Cisco's strong competitive advantage," said John Chambers, Cisco's chief executive.
In the first nine months of fiscal 2005, Cisco earned $4.2 billion, or 63 cents per share, on sales of $18.2 billion. In fiscal 2004, it earned $3.021 billion, or 43 cents per share, on sales of $16.1 billion.
The results were announced after financial markets closed. Cisco shares ended at $18.20, unchanged from Monday's close, in regular trading Tuesday on the Nasdaq Stock Market. In the extended session, they lost a penny.
Cisco: http://www.cisco.com |
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