``The first four months of 2001 were extremely challenging as we went from year-over-year bookings in excess of 70% in November, to 30% negative growth within a span of several months. This may be the fastest deceleration any company of our size has ever experienced,'' said John Chambers, president and CEO of Cisco Systems. ``We believe that the challenges we face are primarily based on macro-economic and capital spending issues, although there is always room for improvement in our own operations. We believe the strong will get stronger while the economy rapidly goes through peaks and valleys of change. All of this better positions Cisco to lead, if we execute effectively, as the Internet and the associated applications continue to drive the Internet economy.''