Cisco's Earnings Up in First Half of Fiscal 2007
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Cisco's earnings up in first half of fiscal 2007    LOS ANGELES, Feb. 6 (Xinhua) -- Cisco, the worldwide leader in networking, said on Tuesday that its net sales for the first six months of fiscal 2007, which ended on Jan.
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Driven largely by gains in its wireless and data businesses, Verizon Communications&#39; revenue was up 5.5 percent year over year in the fourth quarter of 2007, and net income was up slightly.Verizon on Monday reported revenue of $23.8 billion for the fourth quarter, which ended Dec. 31, up from $22.6 billion in the fourth quarter of 2006. Verizon&#39;s net income rose from $1.03 billion to $1.07 billion this past quarter.Earnings per share was $0.37, or $0.62 before one-time items, matching consensus earnings expectations by analysts polled by Thomson Financial. However, analysts had expected revenue of nearly $24 billion for the quarter.Not counting one-time charges, operating income dropped 0.6 percent, to $3.4 billion. One-time items included severance packages for layoffs that will continue through 2008, and a spin-off of wireline access lines in parts of New England.Verizon reported &quot;strong growth in sales of all our strategic products,&quot; Verizon Chairman and CEO Ivan Seidenberg, said in a statement. &quot;We see significant opportunities to grow revenues and expand our leadership in wireless and broadband markets, while reducing operating expenses.&quot;Verizon&#39;s revenue for the year was $93.5 billion, up by $5.3 billion from 2006.Verizon focused on growth in a couple of key areas, including its wireless business.Verizon Wireless&#39; customer numbers increased 11.3 percent from the fourth quarter of 2006, to a total 65.7 million, the company said. Wireless revenue for the quarter was $11.4 billion, up 13.3 percent from a year ago. Verizon Wireless added 2 million customers during the quarter.Wireless data revenue was particularly strong, said Doreen Tobin, Venison&#39;s chief financial officer. Wireless data revenue grew by 65 percent in 2007, she said during a conference call.&quot;We see enormous potential for growth in wireless data for years to come,&quot; she said.Total wireless revenue grew 15.3 percent in 2007, to $43.9 billion for the whole year. &quot;We have a proven business model,&quot; Tobin said. &quot;These results are further evidence of great execution, sustainable growth, and strong cash generation.&quot;In Verizon&#39;s data business, the company added 245,000 Fios fiber-based Internet customers, and 226,000 Fios television customers. The company added a total of 264,000 broadband customers in the quarter, including Fios and DSL (digital subscriber lines). Data revenue increased 12.8 percent to $4.8 billion.Some of those gains were partially offset by a 1.4 percent decrease in overall wireline revenue. Wireline revenue was $12.5 billion for the quarter, which includes the data revenue.Verizon had a &quot;very good year,&quot; but it faces some challenges in 2008, said Jeff Kagan, an independent telecom analyst.&quot;This year will be a little tougher with trouble in the housing market and debates about a coming recession, but so far, so good for Verizon,&quot; Kagan wrote in an e-mail. &quot;The telecom industry continues its strong growth, and cable television competitors have signaled price increases again, but at some point soon brisk competition will break out between the cable television companies and the telephone companies.&quot;The competitive action has started in many markets, but will spread dramatically this year,&quot; Kagan added. &quot;This will be an exciting year to keep our eyes on.&quot;Verizon has not yet seen slumping sales due to fears of a recession in 2008, Tobin said.
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Telecom reported first quarter net earnings after tax of $193 million, an increase of 19.1 percent on the same quarter in 2003. Reported net earnings included an abnormal item of $10 million relating to the
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Cisco Systems Inc has posted an unexpected 40% profit jump on 27% higher sales for its second fiscal quarter.
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Net income in the fiscal first-quarter rose to $509 million, from $440 million a year earlier, while revenue rose seven percent to $2.
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Cisco Systems Inc., the biggest maker of equipment that directs data over the Internet, on Tuesday said quarterly earnings rose 29 percent on stronger demand for its networking gear.
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U.S. tech stocks rose on Wednesday, boosted by Cisco Systems Inc.'s  strong profits and outlook which reinforced optimism about earnings, while blue chip stocks pared gains as the price of oil fell.
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Cisco Systems Inc.'s fiscal first-quarter profits jumped 29 percent as the network equipment giant saw growth in its traditional routing markets as well as its emerging technologies like Internet telephone and home networking gear.
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Cisco Systems (NASDAQ: CSCO) has scheduled a conference call on Tuesday, February  6, 2007 at 1:30 PM (PT) to announce its second quarter fiscal year 2007 financial results.
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Cisco Systems Inc. , the biggest maker of equipment that directs data over the Internet, on Tuesday said quarterly earnings rose 29 percent on stronger demand for gear such as wireless networks and Internet telephone equipment.
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By Ari Levy  Cisco Systems shares rose Wednesday after its chief executive, John Chambers, forecast that fiscal third-quarter sales at the company, the world's biggest maker of computer-networking equipment, would beat analysts' estimates.
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Cisco Systems, the largest maker of Internet networking equipment, said its first-quarter profit rose 29 percent.
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Cisco Systems, the biggest maker of equipment that directs data over the Internet, said Tuesday its quarterly earnings rose 29 percent with stronger demand for its networking gear.
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(InfoWorld) - Oracle Corp. declared another strong quarter of financial results, exceeding both its own expectations and analysts' predictions, in what the database, applications and middleware software vendor has typically defined as a tough time period. In results for Oracle's first quarter of fiscal 2007 issued Tuesday for the period ended Aug. 31, the company saw its net income climb 29 percent over the year-ago quarter to US$670 million on revenue up 30 percent to $3.6 billion. Earnings per share (EPS) grew 28 percent to $0.13. Discounting the impact of recent acquisitions and other factors, Oracle's net income rose 26 percent to $931 million compared with the first quarter of fiscal 2006, while revenue was also up 26 percent to $3.7 billion, and EPS grew 24 percent to $0.18. A consensus estimate of Thomson Financial analysts had predicted that Oracle would report revenue of $3.5 billion on an EPS of $0.16. The figures were better than what Safra Catz, co-president and chief financial officer at Oracle, estimated back in June when the company issued its fourth-quarter results for fiscal 2006. She predicted then that total fiscal 2007 first-quarter revenue would rise 19 percent to 20 percent on an EPS of $0.16, without accounting for any specific charges likely to be taken in the quarter. "We exceeded our guidance on every metric and delivered strong revenue growth across all product lines and geographies," Catz said in an Oracle release. In the first quarter of fiscal 2007, Oracle gained $2.7 billion of its revenue from software sales, with new software licenses accounting for 22 percent of revenue or $804 million, while software license update and product support contributed 54 percent or $1.9 billion to Oracle's bottom line. Services made up the remaining $846 million or 24 percent of revenue. Revenue from new applications shot up by 80 percent compared to the same quarter last year, with new database and middleware license revenue growing by a more modest 15 percent, while service revenue rose by 33 percent. Â
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The network equipment maker reported that its quarterly net income grew 7.2 percent amid growing concern that economic weakness could affect technology spending this year.
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InfoWorld - Networking giant Cisco Systems posted solid financial results Wednesday, crediting the company's broad customer base and new products for strong sales growth.
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Cisco Systems Inc. , the largest maker of communications gear to direct traffic over the Internet, on Tuesday said quarterly earnings rose, benefiting from higher sales in advanced technologies and the impact of a year-earlier accounting change.