Cisco forecasts fall in sales in January quarter

(Telecompaper) Cisco reported revenues up 1 percent to USD 12.4 billion in its fiscal first quarter to October, but said it expects a 2-4 percent annual decline in sales in fiscal Q2. The past quarter showed sales at the top of the company's guidance, after adjusting for the sale of its set-top box business. Net earnings were still down 4 percent year-on-year to USD 2.3 billion or USD 0.46 per share. For Q2, Cisco forecast EPS of USD 0.42-0.47.