Cisco's sales rise as profit falls
Drop in profits despite increased sales for second quarter 2004
Cisco has announced a drop in profits despite increased sales for its second quarter 2004. Sales grew 14.5 per cent to $5.4bn while profit fell 27 per cent to £724m due to a one-off charge of $567m related to Cisco's acquisition of storage vendor Andiamo Systems.
John Chambers, chief executive of Cisco, said the firm's Advanced Technologies performed well, while Des Lekerman, managing director of Cisco VAR Eurodata Systems, said: "Cisco is a good, strong company with a good spread of technologies."