Network equipment supplier
Cisco reported flat profits of £1.38bn on sales that rose 8.1%
to £6.46bn for the first quarter ending 25 October.
Chairman and CEO John Chambers said, "Cisco delivered solid
revenue and earnings growth in what is clearly a very challenging
global economy."
However, cash flow from operations was down sharply to £1.69bn
for 1Q09, compared with £1.95bn a year ago, and £2.20bn for the
previous quarter.
Chambers said Cisco would focus on managing its resources,
invest in innovation, and strengthen relationships with its
customers.
"The essential role that the network plays in driving business
productivity and competitive advantage is more relevant than ever
in this current macro-economic environment," he said.