8-KEarnings & Results

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Feb 9, 2011)

Filed February 9, 2011For Securities:CSCO

Summary

This 8-K filing from Cisco Systems, Inc., dated February 9, 2011, announces the company's financial results for its fiscal second quarter ended January 29, 2011. The primary purpose of the filing is to provide investors with the company's earnings release, which is furnished as an exhibit. The report details the company's performance, including both GAAP and non-GAAP financial measures. Cisco emphasizes its use of non-GAAP measures, such as non-GAAP net income, non-GAAP net income per share, and non-GAAP inventory turns, to offer a clearer view of operational trends and underlying business performance. These non-GAAP figures exclude items like share-based compensation expense, amortization of acquisition-related intangible assets, other acquisition-related costs, and significant asset impairments/restructurings. The company believes these adjustments provide valuable insights for investors and management by removing the impact of non-operational or non-cash items that may obscure the core business trends. Investors are advised to review these non-GAAP measures in conjunction with the corresponding GAAP figures.

Key Highlights

  • 1Cisco Systems reported its fiscal second quarter 2011 financial results on February 9, 2011.
  • 2The filing includes a press release with detailed results for the quarter ended January 29, 2011.
  • 3Cisco presents both GAAP and non-GAAP financial measures to investors.
  • 4Non-GAAP measures exclude items such as share-based compensation, acquisition-related costs, and asset impairments.
  • 5The company believes non-GAAP measures offer better insight into ongoing operational performance and business trends.
  • 6Non-GAAP inventory turns are also provided to highlight inventory management trends.
  • 7The CFO, Frank A. Calderoni, signed the report, indicating CFO approval of the disclosed financial information.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially report Cisco Systems' financial results for its fiscal second quarter ended January 29, 2011, by furnishing the accompanying earnings press release as an exhibit. It provides investors with the company's performance update for the period.

Cisco provides non-GAAP financial measures because management believes they offer a more meaningful view of the company's ongoing operational performance and business trends by excluding certain expenses like share-based compensation, acquisition-related costs, and asset impairments. These adjustments are intended to help investors and management better understand the core business results.

Cisco's non-GAAP measures typically exclude share-based compensation expense, amortization of acquisition-related intangible assets, other acquisition-related costs, significant asset impairments and restructurings, and the related income tax effects. They may also exclude significant effects of retroactive tax legislation and significant transfer pricing adjustments.

No, the non-GAAP measures are not prepared in accordance with Generally Accepted Accounting Principles (GAAP) and may differ from non-GAAP measures used by other companies. Cisco emphasizes that these non-GAAP measures are not a substitute for GAAP measures and should be considered alongside them to evaluate the company's financial condition and results of operations.