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

The main purpose of this 8-K filing is to officially report Cisco Systems' financial results for its fiscal third quarter ended April 27, 2019, by furnishing a press release that contains this information.

Why does Cisco present non-GAAP financial measures?

Cisco presents non-GAAP financial measures because it believes they provide useful information to investors and management regarding financial and business trends related to its historical and projected results of operations. These measures exclude certain items that management does not believe are reflective of ongoing business and operating results, such as share-based compensation and acquisition-related costs.

What are some of the specific items Cisco excludes from its non-GAAP 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, and gains and losses on equity investments. The income tax effects of these excluded items are also adjusted.

Does the report provide future financial outlook?

Yes, the accompanying press release, furnished with this 8-K, includes estimated future ranges for gross margin, operating margin, tax provision rate, and EPS on a non-GAAP basis.

CSCO 8-K: Earnings & Results

Summary

Cisco Systems, Inc. (CSCO) filed a Form 8-K on May 15, 2019, to report its financial results for the fiscal third quarter ended April 27, 2019. The report primarily serves to furnish a press release containing detailed financial information, including both GAAP and non-GAAP measures. Investors should note that Cisco emphasizes the use of non-GAAP figures to provide a clearer view of its ongoing business trends, excluding items such as share-based compensation, acquisition-related costs, and amortization of intangibles. The company also details its methodology for calculating these non-GAAP metrics and provides context for exclusions, including the impact of divesting the Service Provider Video Software Solutions (SPVSS) business. The furnished press release likely contains key performance indicators and forward-looking estimates. Cisco's approach highlights its commitment to transparency regarding the operational performance of its core business, allowing stakeholders to better assess its underlying profitability and strategic direction. Investors are encouraged to review the accompanying press release for specific financial figures and outlook.

Key Highlights

1Cisco Systems reported its fiscal third quarter 2019 results on May 15, 2019.
2The 8-K filing primarily furnishes a press release detailing the company's financial performance for the quarter ended April 27, 2019.
3Cisco utilizes and presents non-GAAP financial measures, alongside GAAP measures, to offer insights into business trends.
4Key non-GAAP adjustments include exclusions for share-based compensation, amortization of acquisition-related intangible assets, and acquisition/divestiture costs.
5The company also provides details on its exclusion of significant asset impairments, litigation settlements, gains/losses on equity investments, and certain tax matters from its non-GAAP reporting.
6Results and projections may exclude the impact of the divested Service Provider Video Software Solutions (SPVSS) business.
7The filing includes forward-looking estimates for gross margin, operating margin, tax rate, and EPS on a non-GAAP basis.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (May 15, 2019)

Summary

Key Highlights

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