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

The main purpose of this 8-K filing is to report Cisco Systems, Inc.'s financial results for its fiscal first quarter ended October 27, 2018, by furnishing a press release that contains these results and related information.

Does this filing contain the actual financial numbers?

No, the 8-K filing itself does not contain the specific financial numbers. It refers investors to Exhibit 99.1, which is a press release issued by Cisco, for the detailed financial results and future estimates.

What is a non-GAAP measure and why does Cisco use it?

Non-GAAP measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. Cisco uses non-GAAP measures, such as non-GAAP net income and EPS, to provide investors with a view of its business trends that it believes is useful, by excluding items like share-based compensation expense, amortization of acquisition-related intangible assets, and other one-time or non-recurring items. Cisco emphasizes that these measures should be used in conjunction with GAAP measures.

What types of expenses does Cisco exclude from its non-GAAP financial measures?

Cisco typically excludes items such as 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, gains and losses on equity investments, and the income tax effects of these items. They may also exclude significant tax matters.

CSCO 8-K: Earnings & Results

Summary

Cisco Systems, Inc. (CSCO) filed an 8-K on November 14, 2018, to report its fiscal first quarter 2019 financial results for the period ended October 27, 2018. The report primarily serves to furnish a press release detailing these results, which includes both GAAP and non-GAAP financial measures. Investors should note that Cisco emphasizes the use of non-GAAP measures for a clearer view of underlying business trends, excluding items like share-based compensation, amortization of acquisition-related intangibles, acquisition/divestiture costs, and significant impairments or litigation expenses. The press release, incorporated by reference, provides details on the company's performance in the quarter. While the 8-K itself doesn't contain the specific numerical results, it directs investors to the accompanying press release (Exhibit 99.1) for comprehensive financial data, including projections for future quarters on a non-GAAP basis. The company's management utilizes these non-GAAP figures for internal budgeting and performance review, believing they offer valuable insights into operational trends when considered alongside GAAP measures.

Key Highlights

1The 8-K filing serves to report Cisco's financial results for the fiscal first quarter of 2019, ending October 27, 2018.
2A press release (Exhibit 99.1) is furnished, containing detailed financial results and future estimates.
3Cisco presents both GAAP and non-GAAP financial measures in its reporting.
4The company explicitly details the types of expenses excluded from its non-GAAP measures, such as share-based compensation and acquisition-related costs.
5Cisco believes non-GAAP measures provide useful insights into business trends, complementing GAAP reporting.
6The filing includes information on management's use of non-GAAP metrics for internal budgeting and performance analysis.
7Future financial performance projections on a non-GAAP basis are also included in the furnished press release.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Nov 14, 2018)

Summary

Key Highlights

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