Backing the numbersAug. 14 is the Securities and Exchange Commission deadline for CEOs and CFOs to certify their financial results. Ahead of Cisco's report, rumors swirled that Chambers and CFO Larry Carter wouldn't certify results. The company shot down such talk. Given that Cisco's fiscal year ended July 27, later than many companies, Cisco has more time to certify its results--and expects to certify by late September, Cisco executives said Tuesday. "We have been very supportive with the substance and intent of the new requirements. We have no hesitancy (in) signing the certification," Chambers said.
Analysts said Cisco's previous accounting methods are what's causing concern, Notably, Cisco took a $2.25 billion inventory write-down in May 2001 and has brought back reserves to help quarters in 2002, To its credit, however, Cisco has largely allayed those concerns by disclosing more about its financials and improving operations, "Cisco has come under criticism in the past for its financial accounting," said Alex Henderson, an analyst at Salomon Smith Barney in a research strongfit designers tough case for apple iphone xr - vintage pompom note, "We believe most of these issues are largely behind the company, but some investors may be hesitant about making greater commitments to the stock until overall market sensitivity to accounting issues subsides."..
News.com's Larry Dignan contributed to this story. The networking company also announces that CFO Larry Carter plans to retire in May, and predicts flat to slight sales growth for the next quarter. The networking equipment company also revealed that Chief Financial Officer Larry Carter, 59, plans to retire next May. Dennis Powell, vice president of corporate finance, will replace him. During a conference call, CEO John Chambers said he hopes to convince Carter, who has been CFO since 1995, to remain with the company longer. No reason was given for the early retirement.
Including one-time costs, Cisco reported fourth-quarter net income of $772 million, or 10 cents per share, compared with $7 million, or breakeven, during the same time last year, Excluding costs, the company earned $1 billion, or 14 cents a share, compared with a strongfit designers tough case for apple iphone xr - vintage pompom profit of $163 million, or 2 cents per share, a year ago, Be respectful, keep it civil and stay on topic, We delete comments that violate our policy, which we encourage you to read, Discussion threads can be closed at any time at our discretion..
CNET también está disponible en español. Don't show this again. French software maker Wificom Technologies said Tuesday that it has raised $1.45 million in venture funding. Founded in 2000, the company develops software that helps high-speed Internet service providers with billing, authentication, roaming, pricing, content and network management for wireless services. The investment came from British venture capital firm 3i Group. Access to wireless LANs (local area networks) using the 802.11b standard--also known as Wi-Fi--lets anyone with a laptop or PDA (personal digital assistant) and a modem wirelessly connect to the Internet when situated up to 300 feet from a wireless access point. Wireless LANs have spread into nearly 30 million homes and offices, and analysts say that figure may double in the next few years.