Boston.com: Cisco profit up 76% to record

Boston.com: Cisco profit up 76% to record: "Chambers, who received a $1 annual salary and declined a bonus for the second straight year, has boosted per-share profit by cutting costs and using part of Cisco's $20.7 billion in cash and investments to repurchase shares.The company, which sells 68 percent of all switches and 81 percent of routers that direct data traffic, tends to charge higher prices than competitors, including Brampton, Ontario-based Nortel Networks Corp., the number two equipment company, and number three 3Com Corp. of Marlborough, Mass."

(emphasis mine)