http://www.morningstar.com/earnings/38658730-cisco-systems-inc-csco-q3-2012.aspx

Cisco Systems Inc CSCO
Q3 2012 Earnings Call Transcript

Transcript Call Date 05/09/2012

Operator: Welcome to Cisco Systems' Third Quarter and Fiscal Year 2012 Financial Results Conference Call. At the request of Cisco Systems, today's call is being recorded. If you have any objections, you may disconnect.

Now I'll like to introduce Melissa Selcher, Senior Director, Analyst and Investor Relations. Ma'am, you may begin.

Melissa Selcher - IR: Thank you. Good afternoon, everyone, and welcome to our 89th quarterly conference call. This is Melissa Selcher, Senior Director of Analyst and Investor Relations, and I am joined by John Chambers, our Chairman and Chief Executive Officer; Frank Calderoni, Executive Vice President and Chief Financial Officer; Rob Lloyd, Executive Vice President of Worldwide Operations; and Gary Moore, Executive Vice President and Chief Operating Officer.

The Q3 fiscal year 2012 press release is on the U.S. High-Tech Marketwire and on the Cisco website at http;newsroom.cisco.com.

I would like to remind you that we have corresponding webcast with slides. Additionally, downloadable Q3 financial statements will be available following the call in the Investor Relations section of our website, including revenue and gross margin by geographic segments, as well as revenue by product categories.

Income statements, full GAAP to non-GAAP reconciliation information, balance sheets, and cash flow statements can also 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.

An audio replay of this call will be available from May 9, through May 16 at 866-493-8039 or 203-369-1749 for international callers. A webcast replay is available from May 9, through July 20 on Cisco's Investor Relations website at investor.cisco.com.

Throughout this conference call, we'll be referencing both GAAP and non-GAAP financial results. The financial results in the 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 reports on Form 10-Q and 10-K 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. Unauthorized recording of this conference call is not permitted.

I will now turn it over to John for his commentary on the quarter.

John T. Chambers - Chairman and CEO: Thank you, Mel. I am pleased to share another quarter of solid execution on our three-year plan of continued profitable growth. For the second quarter in a row, we delivered record revenues, record non-GAAP earnings per share and record non-GAAP operating income and non-GAAP net income. We believe our vision and strategy are working. Our value proposition and mindshare with our customers are very strong. One example would be our traction (and relative) performance with our service provider customers, which represents about a third of our total business and where we believe we have taken wallet share almost across the board. We remain number one or number two in almost every product market where we play. At the same time, we have maintained or gained share year-over-year in the majority of product categories across service provider, commercial and enterprise in the most recent quarter for which the market share data is available.

Read our Earnings Call Transcript disclaimer.
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