Cisco Systems Inc CSCO
Q3 2010 Earnings Call Transcript

Transcript Call Date 05/12/2010

Operator: Welcome to Cisco Systems’ Third quarter Fiscal Year 2010 Financial Results Conference Call. At the request of Cisco Systems, today’s conference is being recorded. If you have any objections, you may disconnect.

Now, I’d like to introduce Ms. Laura Graves, Director of Global Investor Relations, Corporate Communications for Cisco Systems. Ma’am, you may begin.

Laura Graves - Director, Global IR: Thank you, operator. Good afternoon, everyone and welcome to our 81st quarterly conference call. This is Laura Graves and I am joined by John Chambers, our Chairman and CEO; Frank Calderoni, Executive Vice President and Chief Financial Officer; Rob Lloyd, Executive Vice President of Worldwide Operations; Ned Hooper, Chief Strategy Officer and Senior Vice President of our Consumer Business and Padmasree Warrior, our Chief Technology Officer. The Q3 fiscal year 2010 press release is on the U.S. High Tech Marketwire and on the Cisco website, at

I would like to remind you that we have a corresponding webcast with slides. In those slides, you will find the financial information that we cover during this conference call as well as additional financial metrics and analysis that you may find helpful. Downloadable Q3 financial statements will be available following the call, including revenue by product and geography. Income statements, full GAAP to non-GAAP reconciliation information, balance sheets and cash flow statements can be found on our website in the Investor Relations section. Click on the Financial Reporting section of the website to access the webcast slides and these documents.

A replay of this call will be available via telephone from May 12 through May 19 at 866-357-4205 or 203-369-0122 for international callers. A replay will also be available from May 12 through July 23 on Cisco’s Investor Relations website.

Throughout this conference call, we will be referencing both GAAP and non-GAAP financial results. The financial results in this press release are unaudited.

The matters we will be discussing today include forward-looking statements, and as such, are subject to the risks and uncertainties that we discuss in detail in our documents filed with the SEC specifically, the most recent annual report on Form 10-K, quarterly report on Form 10-Q and any applicable amendments, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements.

And finally, unauthorized recording of this conference call is not permitted.

And with that, I’d like to turn the call over to John for his commentary on the quarter.

John T. Chambers - Chairman and CEO: Laura, thank you very much. During the opening comments of the conference call, I will focus on what I view to be the key takeaways Q3 fiscal year 2010; first, a very candid discussion about what we are seeing in the market on a global basis relative to Q3 and its effect on our Q4 fiscal 2010 expectations; second, an update on our rapidly improving financial measurements and some interesting geographic product, acquisition and customer segment metrics; third, a high level summary of what you see is in terms of where we’re placing our risk investments and the results in some market adjacencies; and then, finally, our revenue guidance for Q4 with the appropriate caveats.

Read our Earnings Call Transcript disclaimer.
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