Cisco has reported net revenue of $6bn (£3.26bn) for the first quarter of its 2005 fiscal year, only slightly up on the previous quarter but an increase of 17.1% over the last 12 months.
Net income for the quarter, which ended 30 October, was $1.4bn.
The figures record a sixth straight quarter of revenue growth for Cisco, and company officials forecast that the second quarter would bring 1-3% growth.
Cisco added 715 workers in the first quarter, taking its workforce to just over 35,000. About half the new staff came through acquisitions - Cisco bought all or part of five companies during the quarter.
Cisco chief executive John Chambers said he thought the biggest long-term competitive threat would come from Asian network equipment makers. "Cisco will not lack for competitors in the future," he said.
Looking ahead to future technologies, Chambers said Cisco would weigh many changes, including advances in higher-intelligence switching gear, sometimes called Layer 4-7 switching. Layers 4-7 deal with end-to-end communication between a message source and a message destination, while Layers 1-3 are devoted to network access.
Chambers said he still had a "healthy paranoia" about the market for network equipment in coming months, while noting four different shifts in the market during the past 15 months.
Matt Hamblen writes for Computerworld