Cisco Says Spending Continues to Be Crimped

Cisco Systems Inc. said spending by its phone and Internet service provider customers will continue to be crimped by economic conditions and availability of funds “for the foreseeable future.”

The company made the comments in its quarterly report to the Securities and Exchange Commission, in language that was new to the document’s “risk factors” section, which cautions investors. The filing wasn’t more specific. Cisco, the largest maker of computer-networking equipment, gets about one-third of its sales from such customers, analysts say.

Cisco spokeswoman Abby Smith said the remarks in the document, known as a 10-Q, are “an articulation of comments we’ve made previously.”

The company’s shares closed off 41 cents at $18.85 on Nasdaq.