Cisco suffers fourth quarter losses, but looks ahead
- By Washington Technology staff
- Aug 11, 2011
While Cisco's fiscal fourth quarter suffered losses, its CEO is ready to transform the company into a new "very focused, agile, lean, and aggressive" version, writes Chad Berndtson on CRN.
Despite the profit declines, the company showed signs of stability with its sweeping restructuring program that is expected to trim $1 billion in expenses by fiscal 2012's end, the article states.
Cisco profit slipped 36.3 percent to $1.2 billion in the fourth quarter, but CEO John Chambers projects sales to grow between 1 and 4 percent in the first quarter of the fiscal year.