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

The primary purpose of this 8-K filing is to report Cisco Systems' financial results for its fiscal second quarter ended January 25, 2020. It includes a press release that details the company's performance and financial condition for that period.

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 them to provide investors with a clearer view of its operational performance and business trends by excluding items like share-based compensation, acquisition-related costs, and amortization of intangible assets, which can fluctuate and may not reflect ongoing operational results.

Are the non-GAAP measures presented in this filing the only way to assess Cisco's performance?

No, Cisco emphasizes that its non-GAAP measures are presented in conjunction with corresponding GAAP measures. They are intended to provide useful supplemental information and should be used to evaluate the company's results alongside its GAAP financial statements, not as a replacement.

Does this filing include future financial guidance?

Yes, the attached exhibit (press release) includes future estimated ranges for non-GAAP gross margin, operating margin, tax provision rate, and EPS. Investors should refer to the press release for specific forward-looking figures.

CSCO 8-K: Earnings & Results

Summary

Cisco Systems, Inc. (CSCO) filed an 8-K on February 12, 2020, to report its financial results for the fiscal second quarter ended January 25, 2020. The filing primarily consists of a press release detailing these results, along with an explanation of the non-GAAP financial measures used by the company. Investors should note that Cisco utilizes non-GAAP figures to provide insights into its operational performance, excluding items such as share-based compensation, amortization of acquisition-related intangibles, acquisition/divestiture costs, and significant impairments or litigation. The company emphasizes that these non-GAAP measures are intended to be viewed alongside their GAAP counterparts and are used internally for budgeting and financial review. The press release also confirms the divestiture of the Service Provider Video Software Solutions (SPVSS) business in the prior fiscal year, and financial measures may be presented excluding this segment to reflect ongoing business trends. Investors should consult the full press release for specific financial figures and forward-looking guidance.

Key Highlights

1Cisco Systems announced its fiscal second quarter 2020 financial results for the period ended January 25, 2020, via an 8-K filing on February 12, 2020.
2The filing includes a press release (Exhibit 99.1) detailing the company's operational and financial performance for the quarter.
3Cisco employs and presents non-GAAP financial measures, which exclude certain items like share-based compensation, acquisition-related costs, and amortization of intangibles, to offer insights into ongoing business trends.
4The company explicitly states that these non-GAAP measures are supplementary to, and not a replacement for, GAAP-based financial reporting.
5Cisco's management uses these non-GAAP measures for internal budgeting and financial review processes, alongside GAAP figures.
6The filing references the prior divestiture of the Service Provider Video Software Solutions (SPVSS) business, with financial information potentially presented both including and excluding this segment.
7Information in this 8-K, including the furnished press release, is not intended to be incorporated by reference into future SEC filings unless specifically referenced.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Feb 12, 2020)

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