Cisco's acquisitions of four firms caused a 37 per cent slide in the networking giant's second fiscal quarter profits, though it did beat analysts' predictions by a penny.
Net income for the period ended 23 January was $288 million, compared to $457 million last year. The figure includes a $349 million charge related to Cisco's second quarter acquisitions of switch supplier Summa Four, fixed wireless specialist Clarity Wireless, network PBX developer Selsius Systems, plus Pipelinks which develops telecomms networking gear.
Revenue increased 41 per cent to $2.9 billion for the second quarter, while for the first six months of Cisco's fiscal 1999 it was $5.42 billion, compared to $3.89 billion for the same period in fiscal 1988.
John Chambers, Cisco president and chief executive, said the company is continuing to push Internet tools into its target markets, which are enterprise, service provider and carrier.
"The Internet revolution will determine which companies survive and which get left behind. Increasingly the Internet is recognised as the key driver in our global economy," he said.
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