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Cisco's Fiscal 1Q Profit Jumps 29 Percent
SAN JOSE, Calif. (AP) -- Cisco Systems Inc.'s fiscal first-quarter profits jumped 29 percent as the network equipment giant reported continued strength in its traditional markets as well as emerging technologies such as Internet telephones, wireless and home networking gear.
The world's leading maker of routers and switches that move traffic over computer networks also said it expects revenues to increase as much as 14 percent in the current quarter compared with the same period in fiscal 2004.
"While there's always room for improvement, we are pleased with our execution in our key product categories, advanced technologies, geographies and other financial measurements,'' said John Chambers, Cisco's chief executive.
For the three months ended Oct. 30, the company on Tuesday reported profits of $1.4 billion, or 21 cents per share, on sales of $6 billion. Cisco earned $1.1 billion, or 15 cents per share, on sales of $5.1 billion in the same period last year.
Excluding special items, the company earned $1.5 billion, or 21 cents per share, compared with $1.2 billion, or 17 cents per share, in the same period last year.
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