csco

Cisco Systems Inc. (CSCO) CEO John Chambers was a four-year projected annual sales growth of 12 percent and 17 percent of weak demand and price pressures force them to cut jobs and close businesses.

Revenue in California's San Jose-based Cisco, the largest manufacturer of networking equipment, not to exceed 2 percent growth in the current quarter, the company said yesterday in a conference call. Analysts on average expected the sales growth of 7 percent according to a Bloomberg survey.

Chambers at the heart of investors in the first conference since the start of the restrictions, which included the demolition of the Flip Video camera, firing 550 people and revision of a management structure that slowed decision-making. Chambers said that more jobs this year and cut small margins. While applauding the honesty, the analysts said they remain in the dark of the company's growth prospects.

"It's great that acknowledged the elephant in the room," said Joanna Makris, an analyst for Mizuho Securities USA Inc. "We knew that was not true in every 12 to 17 percent. But we also - 8 percent to 10 percent?" It is difficult for us to know until you tell us what the product lines are going to quit. "

Following the prediction, the deletion of former Cisco shares gain after trading hours. Cisco fell to $ 17.12, down 3.7 percent, in extended trading after the close of $ 17.78 on the Nasdaq Stock Market.