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Cisco Systems

(CSCO) - Get Cisco Systems Inc. Report

was down 1.4% in preopen


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trading. After the close Monday, the networking giant reported first-quarter earnings of 18 cents per share, beating the Street's estimate of 17 cents and the year-ago 12 cents.

The company raised 2001 revenue growth projections but analysts were concerned about signs of an inventory build-up.