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

The primary purpose of this 8-K filing is to report Cisco's financial results for its second fiscal quarter of 2019, which ended on January 26, 2019. It includes a press release that details these results and provides important context on the company's financial performance.

Why does Cisco provide non-GAAP financial measures?

Cisco provides non-GAAP financial measures because it believes they offer investors a more useful perspective on the company's ongoing operational performance and business trends. These measures exclude certain items like share-based compensation, acquisition-related costs, and other significant items that management believes are not reflective of the core, recurring business operations. Investors are advised to consider these non-GAAP measures alongside the company's GAAP results.

Has Cisco sold any businesses recently?

Yes, Cisco divested its Service Provider Video Software Solutions (SPVSS) business on October 28, 2018, during the second fiscal quarter of 2019. The accompanying press release includes financial measures that exclude the impact of this divested business to provide a clearer view of Cisco's current operational focus and future performance.

Is the information in this filing legally considered 'filed' with the SEC?

According to the filing, the information contained within this 8-K and its accompanying exhibit is furnished, not filed. This means it is not subject to the liability provisions of Section 18 of the Securities Exchange Act of 1934 or Sections 11 and 12(a)(2) of the Securities Act of 1933, unless Cisco specifically incorporates it by reference into another filing.

CSCO 8-K: Earnings & Results

Summary

This 8-K filing from Cisco Systems, Inc. (CSCO) on February 13, 2019, reports its financial results for the second fiscal quarter ended January 26, 2019. The report primarily serves to furnish a press release detailing these results, which includes both GAAP and a significant amount of non-GAAP financial measures. Cisco emphasizes that its non-GAAP figures are presented to provide investors with additional insights into financial and business trends, excluding items such as share-based compensation, amortization of acquisition-related intangible assets, acquisition/divestiture costs, significant asset impairments/restructurings, litigation settlements, gains/losses on equity investments, and significant tax matters. The company also notes the divestiture of its Service Provider Video Software Solutions (SPVSS) business during the quarter, providing certain financial measures that exclude this divested segment. Investors should carefully review both GAAP and non-GAAP figures, as well as the reconciliations provided in the accompanying press release, to fully understand Cisco's performance and financial position.

Key Highlights

1Cisco Systems reported its fiscal second quarter 2019 results on February 13, 2019, for the quarter ended January 26, 2019.
2The filing includes a press release (Exhibit 99.1) containing detailed financial results, prominently featuring non-GAAP financial measures.
3Non-GAAP measures exclude items such as share-based compensation, acquisition-related intangibles amortization, acquisition/divestiture costs, and other significant one-time items.
4Cisco believes these non-GAAP measures offer useful insights into ongoing operational performance and business trends when viewed alongside GAAP results.
5The company divested its Service Provider Video Software Solutions (SPVSS) business in Q2 fiscal 2019 (October 28, 2018).
6Financial measures excluding the SPVSS business are provided to reflect the ongoing business on a go-forward basis.
7The report is furnished as an 8-K, and information is not incorporated by reference into other filings unless explicitly stated.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Feb 13, 2019)

Summary

Key Highlights

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