Cisco Systems Inc.’s fiscal second-quarter profits increased significantly, though sales missed expectations, as the company continued to see strength in its traditional router and switching businesses and emerging technologies such as Internet phones. For the three months ended Jan. 29, Cisco earned $1.4 billion, or 21 cents a share, compared with $724 million, or 10 cents a share, in the same period of 2004. The network equipment maker also said Tuesday that it expects the upward trend to continue for the next two quarters.
Seattle Genetics out $10.6 million
Seattle Genetics Inc. lost $10.6 million, or 25 cents a share, in the fourth quarter of 2004, compared with $5.6 million in the same period of 2003. The Bothell biotechnology company also reported Tuesday it lost $72 million in 2004, which included a charge of $36.6 million associated with a private placement of convertible stock.
Few complain about Cialis ad
The Federal Communications Commission had tallied five complaints as of Monday about the Cialis advertisement aired during the third quarter of the Super Bowl. The TV ad included a spoken message about the side effects of the erectile dysfunction drug, which is made by Bothell-based ICOS Corp. and Eli Lilly &Co. In comparison, an ad by GoDaddy.com received eight complaints.
NetMusic OKs 4-for-1 stock split
NetMusic Entertainment Corp.’s board has approved a four-for-one stock split, in the form of a stock dividend to be given Feb. 21. Stockholders will be entitled to three shares of stock for each share of common stock held in the Edmonds-based company as of Feb. 18. NetMusic, whose over-the-counter stock is traded in the Pink Sheets, also is applying to have its stock traded on a major stock market.
Bothell’s Adaptix wins China work
Adaptix Inc. of Bothell has signed an agreement to build a demonstration broadband wireless network in the ShiJinShan district of Beijing, China. The system will be the first in China to include faster WiMax-ready equipment.
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