By John Oates
Published: 5 August 1998 12:37 GMT
Cisco Systems has posted good results for the fourth quarter and year ended July 25. The networking giant increased turnover 31 per cent from last year to $8,459 million (£5,178 million). Profit for the year was $1,879 million (£1,150 million), up from $1,414 million (£866 million) last year.
Cisco CEO John Chambers said in a statement that the company was "especially pleased, considering the challenges in the Asian market".
He added: "The Internet is now the catalyst driving change in the new economy. Cisco is well positioned to play a key role in the new economy."
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