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Report: Cisco SANs Grew 18%

A market research report has lifted some -- but not all -- of the guesswork behind Cisco Systems Inc.'s (Nasdaq: CSCO) Fibre Channel SAN revenues from last quarter.

Ciscos SAN switch revenue increased 18 percent during the first calendar quarter of this year, while the total market declined, according to recent information from Dell'Oro Group. Cisco’s revenues grew from $31 million in the fourth quarter of 2003 to $36.7 million in the first quarter of 2004.

That 18 percent growth doesn’t directly correlate with Cisco’s fiscal quarter, though. Cisco’s quarter ran from February through April, while Dell’Oro tracked January through March. Dell’Oro Group founder Tam Dell’Oro says there are signs that Cisco had a strong January, which was part of the quarter Cisco announced in February. Back then, Cisco announced a substantial sequential increase in storage revenues (see Cisco Storage Growing Up).

“Back in October, Cisco said they had manufacturing problems that prevented them from shipping,” Dell’Oro says. “It appears December and January were real strong because a lot of their shipments folded into those months." (See Cisco Still a Kid in Storage.)

So we still don’t know exactly how much revenue Cisco gained from storage in the last quarter because Cisco didn’t break out those numbers (see Cisco Call Puts SANs in Storage). That left analysts and industry insiders split on whether the numbers were embarrassingly low or in the same ballpark as the previous quarter (see The Cisco Guessing Game).

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