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Cisco profits fall but positive signs emerge

06 August 2009

Cisco Systems has posted a 46% drop in fourth quarter profit, falling to S1.1bn from $2bn, with revenues dropping almost 18% to $8.5bn, compared to $10.4bn for the same period last year. For the full year, Cisco's GAAP results saw profits drop almost 24% to $6.1bn and revenue fall nearly 9% to $36.1bn. Describing it as 'the toughest economic period we've seen in our lifetime', CEO John Chambers said the company had seen orders begin to rise as the final quarter wore on. 'If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in Q4."

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