Cisco figures fail expectations

Computer networking giant Cisco Systems yesterday missed Wall Street's earnings expectations for the first time in at least several years and warned that the next few quarters would be challenging. A softness in orders that began in mid-December continued through January, Cisco chief executive Mr John Chambers said after the biggest maker of computer networking equipment posted a 48 per cent rise in second-quarter earnings and a 55 per cent jump in sales that still fell short of Wall Street expectations.