haha.....maybe it is good for me if the sales is poor....
at least there will not be worldwide shortage for parts and all my 3 x
Cat6506, 3 x 7507 routers can arrive faster :P
"Ian Gomeche" wrote in message
[EMAIL PROTECTED]">news:[EMAIL PROTECTED]...
> don't know where the link went on my last post so here is the whole story
>
> ian
>
> Monday, 16 April, 2001, 21:05 GMT 22:05 UK
> Cisco warns of lower earnings
>
>
>
> 'Difficult business decisions': Cisco's John Chambers
>
> After the US markets closed on Monday, Silicon Valley's largest company,
> Cisco Systems, cut its earnings and revenue forecasts.
> The tech giant, the worldwide leader in networking for the internet, said
> that sales for the third quarter would come in 30% lower than the previous
> three months.
>
>
>
> This may be the fastest any industry our size has ever decelerated
>
>
> John Chambers, Cisco chief executive
>
> The firm also announced plans to layoff 8,500 people, about 1,000 more
than
> it previously said last month.
>
> The company said that the current business environment had "never been
more
> challenging".
>
> Sales for the third quarter would be down around 30% from the second, when
> they reached $6.7bn (#4.66bn).
>
> The company said it expects its revenue for the fourth quarter to range
from
> flat to down 10%.
>
> Cisco blamed "global economic challenges, the slowdown in the global
telecom
> market and the deceleration in corporate information technology spending"
> for its troubles.
>
> "This may be the fastest any industry our size has ever decelerated, which
> has required us to make difficult business decisions at unprecedented
> speed," said Cisco chief executive John Chambers.
>
> Industry slowdown
>
> High tech stocks have plunged in recent months because of the slowdown in
> the US economy and a slump in spending by firms on information technology.
>
> Lucent Technologies, Nortel Networks and Cisco's other rivals have all
> either announced huge job cuts or have issued profits warnings.
>
> And more are expected this week, with a slew of firms reporting earnings.
>
> "My real concern is not about Cisco," said one analyst.
>
> "Relatively speaking, the company will do well, but if relatively well is
> having revenue difficulties to this order of magnitude, then it is
troubling
> for the industry".
>
> Cisco shares were reaching $15.90 in after hours trading on Monday, having
> closed on the Nasdaq at $17.20, where they had dropped 78 cents, or more
> than 4%.
>
> The stocks have plunged from a year high of nearly $72.
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