8-KOther EventsExhibits & Filings

CISCO SYSTEMS, INC. 8-K Report, Corporate Update (Feb 10, 2006)

Filed February 10, 2006For Securities:CSCO

Summary

Cisco Systems, Inc. (CSCO) filed a Current Report on Form 8-K on February 10, 2006, primarily to incorporate information into a forthcoming Registration Statement on Form S-3. The report details a restructuring of the company's geographic reporting segments, introducing a fifth segment and reallocating regions from two existing segments. This change affects how Cisco presents its financial performance in its annual filings, specifically impacting the "Management’s Discussion and Analysis of Financial Condition and Results of Operations" and "Financial Statements and Supplementary Data" sections.

Key Highlights

  • 1Cisco has reorganized its geographic business segments, adding a fifth segment and redefining the scope of two existing ones, effective fiscal year 2006.
  • 2The company is recasting its Annual Report on Form 10-K for the year ended July 30, 2005, to reflect these new reportable segments in its financial disclosures.
  • 3Product sales presentation has also been updated to conform to the reporting of advanced technology product revenue, effective in the second quarter of fiscal year 2006.
  • 4The filing incorporates previously released unaudited financial information from a press release dated February 7, 2006.
  • 5This unaudited information includes Consolidated Statements of Operations for the three and six months ended January 28, 2006, and January 29, 2005.
  • 6It also includes Consolidated Balance Sheets as of January 28, 2006, and July 30, 2005, and Consolidated Statements of Cash Flows for the six months ended January 28, 2006, and January 29, 2005.
  • 7Crucially, Cisco states that these segment and product presentation changes do not alter previously reported consolidated operating results, financial condition, or cash flows.

Frequently Asked Questions

The primary purpose of this 8-K filing is to incorporate updated financial information and segment reporting into a Registration Statement on Form S-3 that Cisco Systems intends to file. It also serves to formally announce and provide context for changes in the company's reportable business segments and product sales presentation.

According to the filing, the changes in reportable segments and product sales presentation are for disclosure and reporting purposes only. They do not change Cisco's previously reported consolidated operating results, financial condition, or cash flows.

This filing includes Exhibit 99.1, which recasts sections of the company's Annual Report on Form 10-K for fiscal year 2005 to reflect the new segment structure and product sales presentation. Additionally, Exhibit 99.2 provides unaudited financial statements (Statements of Operations, Balance Sheets, and Statements of Cash Flows) for the periods ending January 28, 2006, and comparison periods, as previously released in a press release.