Cisco Expecting Q1 Sales Up 18-20 Per Cent

Cisco CEO John Chambers has announced that the company expects its fiscal first-quarter sales to rise by 18% to 20% over a year ago.

The Wall Street Journal reports that Chambers said that the economy may take longer than previously expected for it to return to normal conditions.

The enterprise networking equipment manufacturer had posted a 28 per cent rise in sales during the fourth quarter.

He emphasised that despite increased IT spending, customers were exercising "an unusual amount of conservatism and caution."

Chambers said that the current market situation is best described as "unusual uncertainty".

The CEO assured that Cisco is in the best position possible to deal with rocky market conditions, more so even than its competitors, despite fourth quarter sales failing to live up to Wall Street expectations.

Chambers said that the company had experienced some growth in global markets, except Japan, which showed little to no growth at all.

Cisco has suffered from slow supply chains in the market, but the company expects the situation to improve soon, he added.