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Cisco Systems, 2001 Timeline Saturday, April 21 Bookmark and Share     Author
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Cisco Sees Downturn Continuing  CEO Chambers said the U.S. economic downturn would continue for a least 3 quarters Cisco to Discontinue Optical Router  Slow sales had prompted to stop making device found at the core of optical networks Cisco is in Default  Convergent Communications said that Cisco Systems had notified it that it was in default on a vendor financing agreement Cisco Offers 6 Months Severance  Company will offer the laid-off workers 2 months of pay and benefits, as well as 4 months of pay and benefits Cisco Warning  Warnings for third-quarter closing April would fall far short of expectations. VP arrested for embezzlement  Gordon, a vice president, allegedly fraudulently acquired 30,000 shares of stock in Internet Security Services Group Inc. Cisco posts first quarterly loss
World News (12) USA (335) California (187) Bay Area (11) Silicon Valley (1608) San Jose (312) Cisco (124) 2001
Business (29) Politics (3) Crime (2)
Cisco, January 2001 Cisco, February 2001 Cisco, March 2001 Cisco, April 2001 Cisco, May 2001 Cisco, June 2001 Cisco, July 2001 Cisco, August 2001 Cisco, September 2001 Cisco, October 2001 Cisco, November 2001 Cisco, December 2001
Cisco, 2001   San Jose, March, 2001 (29)   U.S. in March, 2001 (32)   Mexican (26)   Cisco 1st Quarter Earnings
Cisco Backs Off Its Expansion Mexican president visits San Jose
Home network product delayed Anti-Cisco petitions invalidated Cisco: quarter was more challenging Cisco Releases New Routers Group sues over Cisco Cisco considering own power plant Cisco missed expectations  Company missed earnings expectations for the first time in 6 years despite a 50% gain in profits Cisco Stock to 18-Month Lows Cisco cut 8,000 jobs

January 2001 ... more > Top ^

February 2001 ... more > Top ^

March 2001 ... more > Top ^
  Stock price plunged to a 52-week low dropping 10%
  Fox flew to tour Flextronics International, Cisco Systems and Tech Museum of Innovation

April 2001 ... more > Top ^

May 2001 ... more > Top ^
  3rd-quarter results beat analysts' reduced expectations. Revenue is expected to stay flat or fall 10% in the 4rth quarter
May.15 Cisco Offers New Stock Options  Company has offered its 39,600 employees stock options priced at $18.57 a share

July 2001 ... more > Top ^
Jul.11 Cisco to Buy AuroraNetics  $150 million in stock

August 2001 ... more > Top ^
Aug.7 Cisco earnings fall 99%
  $7 million earned in fiscal fourth quarter, meeting expectations Aug.20 Illegally used $8 million in stock
  Osowski and Tang, 2 former Cisco Systems accountants, pleaded guilty to computer fraud and face 5 years in prison Aug.23 Cisco announces reorganization
  Company's engineering organization will focus on 11 technology groups

September 2001 ... more > Top ^
Sep.3 Cisco program: laid-off help non-profits
  80 laid-off employees agreed to work for a year at charities, earning 1/3 of their keeping benefits and stock plans Sep.13 Board authorizes share repurchase  The buyback program of up to $3 billion of stock over the next 2 years

October 2001 ... more > Top ^
Oct.2 Cisco chief executive loses bonus  John Chambers did not receive a bonus for the fiscal year Oct.24 Coyote Valley campus downsized  Company has scaled back plans for a massive campus in one of the San Jose last remaining rural areas Oct.28 12 New Products  Telephone products based on Internet Protocol

November 2001 ... more > Top ^
Nov.5 Cisco beats estimates
  Short-term remains challenging. Net loss is of $268 million in fiscal first quarter

December 2001 ... more > Top ^
Dec.4 Orders in line with expectations
  November orders for networking products were in line with expectations, CEO Chambers says
Dec.10 5,300 Jobs Cut of 6,000 Targeted  Stock fell 42 cents to close at $20.74

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