California-based Cisco Systems Inc. reported a fall of 46% in revenue for the fiscal fourth quarter ended July 25, beating analysts' projections.

Cisco Systems Inc. said the company earned a profit worth $1.1 billion, equivalent to 19 cents a share for the latest quarter, better than the Wall Street expectations.

In case stock-based compensation plus extra items are excluded, company's profits stood at 31 cents a share, better than 29 cents a share projected earlier by analysts on $8.5 billion in profit.

However, profits were down from 33 cents a share for the same quarter in the previous year.

Company's sales plunged 18% to settle at $8.5 billion.

But, John Chambers, CEO of the company seemed optimistic about the future of the company when he said, "We saw a number of positive signs this quarter in the economy and in our business."

John Chambers expects a small rise in profit in the running quarter compared with the passed one.

It may be mentioned here that the company trimmed down about 2,000 jobs in the last 6-month period to cut costs.

For the full fiscal year, Cisco pocketed a profit of $6.1 billion during the full fiscal year, down from $8.1 billion a year earlier.

In the after-hour trading, Cisco shares dropped 3.2% or 70 cents to settle at $21.47.