By Sinead Carew
The technology bellwether, which makes network equipment for phone companies and other businesses, also said it would not provide a view for fiscal 2008 due to uncertainty.
The outlook overshadowed a 7.2 percent increase in Cisco's second-quarter profit, which was in line with expectations.
His comments also dragged down other technology shares in
extended trading. Hewlett-Packard Co
Its shares have fallen about 28 percent since Chambers said in November that the company was seeing dramatic decreases in orders from U.S. banks.
Earnings per share before unusual items were 38 cents, matching the average analyst forecast according to Reuters Estimates.
Cisco has been moving into new markets such as video conferences and high-end video conferences, and also owns television set top box maker Scientific Atlanta.
Cisco shares initially rose after the results to $23.84, but then fell to $21.42 following Chambers' outlook. The stock earlier closed 0.8 percent lower on Nasdaq at $23.08.
