Cisco Systems reported upbeat results for the latest quarter and issued a full-year sales forecast that exceeded Wall Street's estimates.

Net income, which includes expenses related to employee stock, rose to $1.54 billion in the fourth quarter, or 25 cents on a per-share basis.

Cisco Systems said sales jumped 21 percent to $7.98 billion, exceeding consensus estimates for revenue of $7.92 billion.

During a conference call with analysts, CEO John Chambers forecast revenue to grow 15 to 20 percent in fiscal 2007, exceeding expectations for growth of 15 percent for the full year.

He also eased worries about near-term weakness, forecasting first-quarter revenue to rise 19 to 21 percent to a range of $7.79 billion to $7.93 billion, in line with Wall Street's estimates.

By: DocMemory
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