Cisco Systems (CSCO) Taking A Breather After Reporting Results

Cisco Systems (Nasdaq: CSCO) is trading down after reporting Q4 results and noting that it sees Q1 sales down 15% to 17% year over year, but it did say it sees sales up 1% to 3% sequentially.

Cisco reported Q4 EPS of $0.31, 2 cents better than the analyst estimate of $0.29. Revenue for the quarter was $8.5 billion, versus the consensus of $8.52 billion.

Below are some highlight's from CSCO's conference call.

• Revenue fell to $8.5 billion from $10.4 billion for the same quarter last year.
  
• Saw double-digit sequential growth in some segments this quarter.
  
• 7 of Cisco's top 10 products grew quarter of quarter.
  
• Customer orders were up low single digits.
  
• Chambers said
  
• Would wait a few quarters before seeing business momentum returning
  
• Chambers saw a number positive signs
  
• Still sees long-term growth of 12% to 17%
  
• Sees Q1 gross margin 64%.

UPDATE: Click here to see some highlights from the company's Q4 conference call.

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