was up 1.7% in preopen
trading. CEO John Chambers told Britain's
that he sees the U.S. economic downturn continuing for at least three more quarters and there are signs it is spreading.
Chambers, head of the top network-equipment maker, said the outlook had deteriorated significantly since Cisco said in January that it expected the slump to stretch over two quarters or more.
cut their 2001 and 2002 earnings estimates.