Cisco Systems Inc. (Nasdaq: CSCO) storage revenues took a dip last quarter, reversing momentum it had built with its Fibre Channel switches over the last year.
Cisco CEO John Chambers told analysts on a conference call today that storage revenue decreased 2 percent from last quarter, while the companys overall revenue grew 0.8 percent. Chambers said storage revenue grew 160 percent from last year. In context, however, Cisco had negligible revenue in the same quarter last year due to production problems (see Cisco Still a Kid in Storage).
As usual, Cisco didnt specifically break out its storage numbers, but the company gave enough of a hint to determine its revenue (see Cisco Storage Stays Mysterious). Ciscos revenue was put by most estimates at around $40.6 million last quarter, up from $29.6 million the quarter before -- all based on Cisco's storage figures released in January, followed by year-over-year and quarter-to-quarter growth rates provided by the company.
So a loss this quarter would put revenue a bit below $40 million.
The decline was a surprise considering reports from market research firms showed Cisco gaining share from rivals Brocade Communications Systems Inc. (Nasdaq: BRCD)
and McData Corp. (Nasdaq: MCDTA) over the past few quarters (see Cisco's Gained Ground, Says Report and Report Outlines FC Growth, Challenges).
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