What are non-GAAP financial measures and why does Cisco use them?

Non-GAAP financial measures are financial metrics that exclude certain items from the standard GAAP (Generally Accepted Accounting Principles) calculations. Cisco uses them to provide what it believes is a more useful view of ongoing operational performance by excluding items like share-based compensation, acquisition-related costs, and asset impairments, which may not be directly tied to the current period's core business operations.

Where can I find the specific financial numbers (revenue, profit, etc.) for the quarter?

The specific financial numbers for the quarter, including both GAAP and non-GAAP figures, are detailed in the press release furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to that document for the complete financial breakdown.

Does this report provide future financial guidance?

Yes, the report indicates that the accompanying press release includes future estimated ranges for key financial metrics on a non-GAAP basis, such as gross margin, operating margin, tax provision rate, and Earnings Per Share (EPS).

CSCO 8-K: Earnings & Results

Q: What is the main purpose of this 8-K filing for Cisco Systems?

The main purpose of this 8-K filing is to officially report and furnish Cisco's press release containing its financial results for the fiscal first quarter ended October 28, 2017. It's a regulatory requirement to make these results publicly available in this format.

Summary

Cisco Systems, Inc. (CSCO) filed an 8-K on November 15, 2017, to report its financial results for the fiscal first quarter ended October 28, 2017. The report primarily serves as a notification of the release of a press release detailing these results. Investors should note that the filing includes a significant amount of non-GAAP financial information, which the company uses to present what it believes are more indicative of ongoing operational performance by excluding items such as share-based compensation, acquisition-related expenses, and asset impairments. While specific GAAP figures are not detailed within the 8-K text itself, the company emphasizes its use of non-GAAP measures to provide useful insights into financial and business trends. The accompanying press release (Exhibit 99.1) would contain the detailed financial figures, both GAAP and non-GAAP, along with forward-looking estimates for key metrics like gross margin, operating margin, tax rate, and EPS. Investors are encouraged to review the furnished press release for a comprehensive understanding of Cisco's first-quarter performance and future outlook.

Key Highlights

1Cisco Systems reported its fiscal first-quarter 2018 results for the period ended October 28, 2017.
2The 8-K filing primarily serves to furnish the press release containing these financial results.
3The report extensively discusses and presents non-GAAP financial measures.
4Key non-GAAP metrics discussed include net income, gross margins, operating expenses, operating income, tax rates, and EPS.
5Cisco explains its rationale for excluding specific items (e.g., share-based compensation, acquisition costs) in its non-GAAP reporting, citing their non-cash nature or lack of direct correlation to ongoing operations.
6The company believes non-GAAP measures, when presented with GAAP counterparts, offer valuable insights into financial and business trends.
7Future estimated ranges for key financial metrics (gross margin, operating margin, tax provision rate, EPS) on a non-GAAP basis are included in the accompanying press release.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Nov 15, 2017)

Summary

Key Highlights

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