Strong demand for wireless networks and internet telephony helped drive Cisco Systems' profits higher by 23% to $1.2 billion in the most recent quarter.
Profits for the technology giant's third quarter amounted to 19 cents a shares excluding special items, slightly better than expected on Wall Street.
Sales for the quarter jumped 21.7% from the same period a year ago to $5.6 billion.
In a sign of a brighter outlook for the tech sector, Cisco said it was preparing to add 1,000 employees by the end of 2004 as companies slowly begin to boost IT spending.
Cisco, a major producer of switches and other hardware for internet connections, said it benefited from the rising demand for wireless connections and a move to put telephone traffic over the internet.
