Saturday, May 15, 2021

Cisco CEO Upbeat Over Network Sales

Brisk security, wireless LAN and IP telephony gear sales drove Cisco Systems to a strong third-quarter financial results, the company said Tuesday.

“We continue to believe we have uniquely position Cisco as the recovery continues to gain momentum on a global basis,” John Chambers, president and CEO of the San Jose, Calif., network equipment giant, said during a conference call to investors and analysts.

Cisco posted $5.6 billion in revenues for the quarter, compared to $4.6 billion during the same period last year. Pro forma earnings were $1.4 billion, or 19 cents per share, up from $1.1 billion, or 15 cents per share, for the third quarter of 2003.

Chambers is generally optimistic about the industry outlook. He noted that in what is usually a seasonally slow quarter, U.S. enterprise and commercial accounts showed good growth over the second quarter.

Revenues for Linksys, Cisco’s home networking unit, were $174 million for the third quarter, up approximately 5 percent over the previous quarter.

During the three-month period, the company also completed the acquisitions of Riverhead Networks and Twingo Systems for $36 million and $5 million, respectively.

Another key to Cisco’s success was the number of partnerships it struck with big-name IT firms. For example, its recent collaboration with IBM on data center offerings.

Other new alliances were cemented with mobile phone specialist Ericsson , telecom equipment maker Lucent and software leader Microsoft .

Similar articles

Latest Articles

How IBM has Changed...

Think is IBM’s big annual conference, and again this year, it was digital. I’m noticing a sharp quality difference in shows like this where...

Database-Tuning Platform Launches and...

PITTSBURGH — A team out of Carnegie Mellon University is launching its automatic database-tuning product today with the help of $2.5 million in funding.   OtterTune,...

Top 10 Professional Services...

Professional services automation (PSA) software aims to offer service-based companies most of the software they will need to run their businesses in one package....

What is Data Aggregation?

Data aggregation is the process where raw data is gathered and presented in a summarized format for statistical analysis. The data may be gathered...