Cisco(CSCO) today reaffirmed its annual revenue growth targets of 50% to 60%, but the company's shares rebounded only slightly from a 52-week low, as the guidance remained essentially unchanged.
Shares of Cisco were recently down 5%, or $2.44, to $46 in Nasdaq trading, off a low for the day of $45. The 52-week closing low is $45.19. Analysts expect Cisco to earn 19 cents a share for the second quarter and 79 cents a share for the year, according to First Call/Thomson Financial. Wall Street is also looking for second-quarter revenue of $7.25 billion and revenue of $29.55 billion for the year. The company, which makes networking products such as routers and hubs, said it was making no change to its expectations of strong sequential and year-over-year revenue growth. Cisco also continued to back its prior guidance of sequential quarterly revenue growth in the high single digits to the low double digits.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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