CISCO EARNINGS FALL 21 PCT BUT BEAT EXPECTATIONS

(AP) --  Cisco Systems Inc. says earnings fell 21 percent in its latest quarter, but the profit comfortably beat Wall Street expectations.
The world's largest maker of computer networking gear posted a profit of $1.3 billion, or 23 cents per share for the fiscal third quarter, which ended April 25. That was down from $1.8 billion, or 29 cents per share, in the same quarter last year. 

Excluding the cost of stock-based compensation and other items, Cisco's earnings are 30 cents per share, 5 cents above the average forecast of analysts polled by Thomson Reuters. 

Sales fell 17 percent to $8.2 billion but also beat analyst expectations. 

©2009 The Associated Press.  All rights reserved.  This material may not be published, broadcast, rewritten or redistributed.

___________________
The full version of this story is available online at http://www.physorg.com/news160847434.html