Cisco Banking On Share Price Increase - Brief Article

Cisco Systems [CSCO] plans to have a share price of $18 by this time next year, according to the company's annual report released Wednesday. Cisco's sales dropped in all four of its product sectors during its 2002 fiscal year, from $19.5 billion in 2001 to $15.6 billion this year, a 20-percent drop. Its biggest losses occurred in its router division. During the past year, the company wrapped up its purchases of Allegro Systems, AuroraNetics, Hammerhead Networks and Navarro Networks. It also plans to move forward on its acquisition of storage provider Andiamo.

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