Cisco sees sales slump


Internet equipment maker Cisco Systems has seen a big slump in year-on-year sales.

Net sales were up slightly on the previous quarter but down a third on the same period last year, from USD 6.5 billion to USD 4.4 billion.

Actual net loss for the quarter was USD 268 million compared with income of USD 798 million last year.

President and CEO John Chambers said the results had been solid in a 'very challenging economic and capital spending environment'.

To read more information, click here.