Source: CCTV.com
05-08-2009 10:28
Special Report: Tech MaxSAN FRANCISCO, May 6 (Xinhua) -- Cisco Systems Inc. on Wednesday reported declines in profit and sales in its latest quarter, both still beating analysts' estimates.
In its third fiscal quarter ended on April 25, the networking equipment giant's net income was 1.3 billion U.S. dollars or 23 cents per share, down 24 percent or 21 percent respectively from the same period a year earlier.
Excluding costs such as stock compensation, earnings per share rose to 30 cents, beating analysts' expectation of 25 cents.
Cisco said its net sales fell to 8.2 billion dollars in the quarter, representing a decrease of 17 percent year over year, but still met analyst's estimates.
"Cisco delivered solid financial performance despite a challenging global economy and period of evolving market dynamics," John Chambers, Cisco's chief executive officer, said in a statement.
"As we exit the quarter with a compelling financial position and an innovation engine from both a products and business model perspective, we believe we are well positioned for the eventual economic recovery," he added.
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Editor:Yang Jie
