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Cisco has not been spared by the recession. Its profit declined 27 percent in its last quarter, which ended in late January, and it reported flat earnings in the previous period. It is slashing more than $1 billion in expenses, partly by cutting back on travel and freezing hiring.
Yet it also has $29.5 billion in cash and investments, a solid reputation, a network of product re-sellers and thousands of sales employees — assets that the company hopes to exploit.