Wednesday, April 13, 2011

Cisco (CSCO) Changing Consumer Businesses

Cisco (NASDAQ:CSCO) it is exiting many parts of its existing consumer businesses, and those that remain will be realigned to to support four of its five major company priorities - switching and services, core routing, collaboration, architectures, and video.

In relationship to alterations in the consumer segment, Cisco is expected to recognize restructuring charges to its GAAP financial results, with an aggregate pre-tax impact not expected to surpass $300 million during the third and fourth quarters of fiscal 2011.

The company also announced the end of its Flip camera initiative on Tuesday.

Cisco closed Tuesday at $17.44, down $0.03, or 0.17 percent.

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