Cisco, the world's largest producer of networking equipment, on Wednesday posted a 27-percent decrease of its latest quarterly profit that still beat analysts' expectations.

The company reported that in the second quarter ended on January 24, 2009, its net income was US$1.5 billion or 26 cents per share, compared with US$2.1 billion or 33 cents per share a year earlier.

The company's quarterly net sales fell 7.5 percent to US$9.1 billion from US$9.8 billion a year ago.

"Cisco showcased solid financial strength during a period of significant economic challenge," John Chambers, chief executive officer of Cisco, said in a statement.

"We remain comfortable with our long-term vision and strategy as we move into new market adjacencies and prioritize our existing opportunities," he added.

(Xinhua News Agency February 5, 2009)