Cisco shares are down 8% after-hours after the company reported lousy sales and a disappointing forecast.

But the scary stuff could be what Cisco CEO John Chambers said on the company's earnings call this afternoon.

Recall that Chambers was one of the first to really sound the warning sirens about the recession a few years ago.

Transcript via Reuters:

"We are seeing a large number of mixed signals in both the market and from our customers' expectations, and we think the words 'unusual uncertainty' are an accurate description of what is occurring," Chambers said on a conference call on Wednesday.