Network equipment giant Cisco revealed a tripling of its fiscal third-quarter earnings yesterday, but remained cautious about declaring that a corner had been turned.
The company's fiscal earnings, or pro forma net income, rose to $838m from $230m in the corresponding 2001 quarter.
It is the first year-over-year gain in over 12 months for Cisco. Revenues also rose slightly, up two per cent to $4.82bn.
The company said that its restructuring had a lot to do with the earnings improvement.
"Last year was a classic downturn," explained chief executive John Chambers. "We took the critical steps to position ourselves for the upturn, and we are beginning to see very positive results."
He added that Cisco was "well positioned when the economy rebounds".
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