8-KEarnings & Results

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Nov 12, 2014)

Filed November 12, 2014For Securities:CSCO

Summary

Cisco Systems, Inc. (CSCO) filed this Form 8-K on November 12, 2014, to report its financial results for the fiscal first quarter ended October 25, 2014. The filing primarily serves to furnish a press release detailing these results. Investors should note that Cisco utilizes non-GAAP financial measures alongside GAAP reporting, which exclude items such as share-based compensation, amortization of acquisition-related intangible assets, and acquisition/divestiture costs. The company emphasizes that these non-GAAP measures are presented to provide a clearer view of underlying business trends and operational performance. Free cash flow is highlighted as a key liquidity measure, important for its capital return strategy to shareholders through dividends and stock repurchases. Investors are advised to review these non-GAAP figures in conjunction with the corresponding GAAP measures for a comprehensive understanding.

Key Highlights

  • 1Cisco Systems reported its fiscal first quarter 2015 results on November 12, 2014.
  • 2The report includes a press release detailing the company's financial performance for the quarter ended October 25, 2014.
  • 3Cisco provides non-GAAP financial metrics, including non-GAAP net income, tax rates, and earnings per share.
  • 4Non-GAAP measures exclude items like share-based compensation, amortization of acquisition-related intangibles, and acquisition/divestiture costs.
  • 5Free cash flow is presented as a key liquidity measure, important for capital return to shareholders.
  • 6The company states that non-GAAP measures are intended to provide insights into underlying business trends and should be used alongside GAAP results.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report Cisco Systems' financial results for its fiscal first quarter ended October 25, 2014. It includes a press release detailing these results.

Cisco uses non-GAAP financial measures, such as non-GAAP net income and earnings per share, to provide investors with additional insights into its operational performance. These measures exclude certain items like share-based compensation and acquisition-related costs, which the company believes do not reflect ongoing operating results. Cisco emphasizes that these should be considered alongside their GAAP equivalents.

Cisco defines free cash flow as net cash provided by operating activities less cash used to acquire property and equipment. They consider it a key liquidity measure because it represents cash available for investments, acquisitions, stock repurchases, and dividends, aligning with their strategy to return capital to shareholders.

No, Cisco states that its non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), and they may differ from non-GAAP measures used by other companies. Investors should review Cisco's specific definitions and reconciliations.