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CRISCO slips

17:12 CSCO Cisco Systems on Conference Call for Q2 expect revs in 3-5% y/y; op margins in the range of 23-25%; EPS $0.32-0.35; Thomson Reuters consensus $0.42 -Update-
17:11 CSCO Cisco Systems follow up: CSCO is now trading at 21.82, -11%, after giving downside guidance on call (24.49 +0.14) -Update-
On the call CSCO issues downside guidance for Q2, sees Q2 revs up 3-5% YoY, which equates to $10.1-10.3 bln vs. $11.08 bln Thomson Reuters consensus. Co issues downside guidance for FY11, sees FY11 revs up 9-12%, which equates to $43.6-44.8 bln vs. $45.28 bln Thomson Reuters consensus. Mgmt said public sector spending is slow, which has them keeping a conservative outlook over the next few quarters.
source:briefing.com

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