Internet networking giant Cisco Systems said last night that its most recent quarter ended with a net profit excluding one-time charges of $1.33 billion, up 48% from a year earlier.
The earnings amounted to 18 cents per share, just below most Wall Street estimates of 19 cents a share.
Sales for the three months ending January 27, the company's second fiscal quarter, were $6.7 billion compared with $4.4 billion a year earlier.
Cisco said it remains 'cautious about the implications of a brief pause in the current 10-year expansion of the US economy' in the near term.
But president and CEO John Chambers said, 'We remain confident about the market opportunity ahead of us over the next three to five years. This confidence is based on the continued impact of the Internet on productivity, and just how much more work needs to be done before every company is an e-company and a majority of the world's countries are e-countries.'
