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[marketmaven]

CSCO Inventories Continue to Rise- INTC???

Sales in the quarter that ended July 31 rose 26 percent to $5.93 billion from $4.7 billion last year. Analysts were expecting Cisco to earn 20 cents a share before one-time items on sales of $5.89 billion, according to Reuters Estimates. The San Jose, California-based company said in May that fourth-quarter sales would rise 3 percent to 5 percent from the prior quarter's $5.62 billion. Cisco's inventory also rose slightly to $1.2 billion from $1.1 billion in the previous quarter. In Cisco's third quarter, some investors voiced concern with a 20 percent rise in inventories from the previous period. Cisco took a $2.2 billion charge in 2001 to write off excess inventory, but executives said in May that they previously told investors third-quarter inventories would rise and it was not a major issue. Cisco shares fell nearly 3 percent in trading after the market close on Tuesday, compared with their closing price of $20.46 on the Nasdaq.