What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report Cisco Systems, Inc.'s financial results for its fiscal third quarter ended April 28, 2018. It includes a press release that details the company's performance and outlook.

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

Non-GAAP measures are financial metrics that exclude certain items from the Generally Accepted Accounting Principles (GAAP) figures. Cisco uses non-GAAP measures, such as non-GAAP net income and EPS, because they believe these figures provide a more useful view of the company's ongoing operational performance and business trends by excluding items like share-based compensation, acquisition-related costs, and significant one-time events.

Does the filing provide any future financial guidance?

Yes, the filing indicates that the accompanying press release includes future estimated ranges for gross margin, operating margin, tax provision rate, and EPS on a non-GAAP basis.

What types of expenses does Cisco exclude when calculating its non-GAAP results?

Cisco excludes several types of expenses from its non-GAAP measures, including share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related/divestiture costs, significant asset impairments and restructurings, significant litigation settlements and other contingencies, and significant gains and losses on investments. They also exclude the income tax effects of these items.

CSCO 8-K: Earnings & Results

Summary

Cisco Systems, Inc. (CSCO) filed an 8-K on May 16, 2018, reporting its financial results for the fiscal third quarter ended April 28, 2018. The report primarily furnished a press release detailing these results, which included both GAAP and non-GAAP financial metrics. Investors should note that Cisco emphasizes the use of non-GAAP figures to provide insights into ongoing operational performance, excluding items such as share-based compensation, acquisition-related costs, and other significant one-time events. The company provided forward-looking estimates for key financial metrics, including gross margin, operating margin, tax provision rate, and Earnings Per Share (EPS) on a non-GAAP basis. This forward-looking guidance is crucial for investors assessing future performance and potential investment returns. The filing also clarified the specific exclusions made to arrive at their non-GAAP measures, highlighting their belief that these adjustments offer a clearer view of the company's core business trends, separate from non-recurring or non-cash charges.

Key Highlights

1Cisco Systems reported its fiscal third quarter 2018 results on May 16, 2018.
2The report includes both GAAP and non-GAAP financial results for the quarter ended April 28, 2018.
3Cisco utilizes non-GAAP measures to provide insights into ongoing operational performance, excluding items like share-based compensation and acquisition-related costs.
4The press release furnished as an exhibit provides detailed financial information and future outlook.
5Forward-looking estimates for gross margin, operating margin, tax provision rate, and non-GAAP EPS were provided.
6The filing explicitly defines the components excluded from GAAP to calculate non-GAAP financial measures, such as amortization of acquisition-related intangible assets and significant litigation settlements.
7The CFO, Kelly A. Kramer, signed the report, attesting to its accuracy.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (May 16, 2018)

Summary

Key Highlights

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