8-KEarnings & Results

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Feb 4, 2009)

Filed February 4, 2009For Securities:CSCO

Summary

Cisco Systems, Inc. filed an 8-K on February 4, 2009, to report its financial results for the fiscal second quarter ended January 24, 2009. The report primarily serves as a notification of the earnings release, which is furnished as an exhibit. Investors should note that the company is presenting both GAAP and non-GAAP financial measures. The non-GAAP measures exclude items such as employee share-based compensation, purchase accounting adjustments, payroll tax on stock option exercises, acquisition-related expenses, in-process R&D, gains/losses on equity securities, and certain tax effects. Cisco's management believes these non-GAAP metrics provide a more useful view of ongoing operational trends and financial performance.

Key Highlights

  • 1Cisco Systems reported its fiscal second quarter 2009 financial results on February 4, 2009.
  • 2The 8-K filing includes a press release with detailed financial results for the quarter ended January 24, 2009.
  • 3The company is providing both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures.
  • 4Non-GAAP measures exclude significant items such as employee share-based compensation, acquisition-related costs, and gains/losses on equity securities.
  • 5Cisco's management utilizes these non-GAAP measures to provide insights into ongoing operational performance and business trends.
  • 6The filing emphasizes that non-GAAP measures are not a substitute for GAAP and should be considered alongside GAAP results.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Cisco Systems' financial results for its fiscal second quarter ended January 24, 2009. It formally notifies the SEC and investors of these results and includes the earnings press release as an exhibit.

Cisco is providing non-GAAP financial information because its management believes these measures offer a more insightful view of the company's ongoing operational performance and financial trends. They exclude certain items that management deems not reflective of core operations, such as stock-based compensation and acquisition-related expenses.

Cisco excludes a variety of items from its non-GAAP measures. These include, but are not limited to, employee share-based compensation expense, the impact of purchase accounting on inventory, payroll taxes on stock option exercises, compensation and R&D expenses related to acquisitions, amortization of acquisition-related intangible assets, significant gains or losses on publicly traded equity securities, and certain tax effects related to these items or retroactive tax legislation.

Cisco states that its non-GAAP measures are not in accordance with, or an alternative for, GAAP and may differ from those used by other companies. While the company believes they provide useful information alongside GAAP measures, investors should always consider both GAAP and non-GAAP results for a comprehensive understanding of Cisco's financial condition and performance.