Chief Executive of Cisco Systems, John T. Chambers, claims he has successfully and largely finished the task of reshaping the company.
After Cisco, which manufactures many of the components needed to run the Internet, declared its fiscal first-quarter results, Chambers commented, "We've taken 4 to 5 inches off our waistline," as reported by the New York Times.
Cisco, for the current year, is hoping to fair better after cutting down on their consumer business as well as cutting 5,400 jobs.
With this quarter, Cisco Systems has had two very successful quarters under the leadership of Chambers. The chief executive has coined this as "the aggressive, the focused, the simplified Cisco".
Not a very long time ago, the San Jose, California based company was accused by Wall Street for being unfocused as well as unrealistic regarding their prospects of growth as compared to competitors.
In view of the recent growth as well as figures, Eric Suppinger, an analyst with JMP Securities said, "It is better than what I was projecting......revenue was a little ahead of consensus, and the gross profit margins held," as reported by the New York Times.