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Cisco CFO: No Plans to Change Course

Cisco CFO: No Plans to Change Course

The CFO of Cisco Systems said recently that the company does not have any plans to change direction and is doing everything it can to survive in an uncertain economy, The Street reports.

According to the news

The CFO of Cisco Systems said recently that the company does not have any plans to change direction and is doing everything it can to survive in an uncertain economy, The Street reports.

According to the news source, Frank Calderoni's comments come after Cisco recently reported revenue and earnings of $11.5 billion and 47 cents per share, respectively, during the first quarter. Cisco plans to focus on major priorities including switching and routing, data center and cloud technologies.

"Things are working well from a customer perspective across the major segments," the CFO told the news provider in a recent interview. "We're executing on everything that we have been talking to investors about for the last several quarters."

Specifically, Calderoni noted that Cisco's 7 percent revenue growth during the first three fiscal quarters of 2012 was at the high end of its 5-to-7 percent target range. Profit also climbed 14 percent during the period, ahead of the 7-to-9 percent projection.

Still, Cisco shares fell more than 10 percent following the announcement of a cautious outlook, according to Reuters. 

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