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Cisco Q1 results: profits, revenue up…

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Cisco posted profits of $559 million on revenues of $2.59 billion for its fiscal 1999 first quarter, yesterday. The figures show an increase in turnover of 38 per cent and a growth of 34 per cent in profitability on the company's results for the same period last year. Cisco warned that the first quarter profit was actually closer to $518 million, thanks to a one-time charge of $41 million as a write-off of in-process R&D acquired through Cisco's purchase of American Internet Corp. at the end of September. "We are pleased to report the 35th consecutive quarter of revenue and earnings growth," said Cisco's president and CEO John Chambers, without a trace of smuggness. He attributed his company's success to the increased acceptance of the Internet has a key role to play in business operations, and the growing demand for technologies that aid the convergence of voice and data communications. ® Click for more stories Click for story index

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