Cisco Systems Inc CSCO
Q4 2012 Earnings Call Transcript

Transcript Call Date 08/15/2012

Operator: Welcome to Cisco Systems' Fourth 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 90th quarterly conference call. This is Melissa Selcher, Senior Director, 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 Q4 fiscal year 2012 press release is on the U.S. High-Tech Marketwire and on the Cisco website along with the corresponding webcast with slides. Additionally, downloadable Q4 and full fiscal year 2012 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.

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 forms filed with the SEC, specifically the most recent annual report on Form 10-K and Quarterly report on 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. Unauthorized recording of this conference call is not permitted.

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

John T. Chambers - Chairman and CEO: Mel, thank you very much. As we closed fiscal year '12, I am pleased to discuss our strong performance, continued execution of our plan to deliver profitable growth and commitment to our shareholders. For the full fiscal year, we delivered non-GAAP earnings per share growth of 14% year-over-year and revenue growth of 7%, a record year in terms of earnings per share and revenue. For Q4, we delivered our non-GAAP earnings per share growth of 18% on revenue growth of 4%, also a record quarter in terms of revenue.

Our strategy delivering intelligent networks and technology architectures built on integrated products, services and software platforms to fuel our customers business is proving the right long-term strategy for our success and you've seen it in our results. The success of our service provider business where we've moved from an individual product provider in today's market where many of our customers view Cisco as their best strategic partner and meeting their top business and technology objectives.

Read our Earnings Call Transcript disclaimer.
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