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During his presentation, the Cisco chief reiterated a prediction of 5% to 7% revenue growth during the next few years, and said gross margins are expected to remain "pretty steady."

Cisco's gross margin was 62.7% during its recent fiscal first quarter and its operating margin was 27.95%.

Speaking during the event, Cisco CFO Frank Calderoni forecast that the company's operating margin will be in the "high 20s" in fiscal 2013, up from his prior expectation of "mid-20s." Cisco's operating margin in fiscal 2012 was 28%.

Cisco shares closed down 0.74% at $19.33 during Friday trading.

-- Written by James Rogers in New York.

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