Capital Allocation -- In the first quarter of fiscal 2021, we returned $2.3 billion to shareholders through share buybacks and dividends. "Cisco is off to a solid start in fiscal 2021 and we are encouraged by the signs of improvement in our business as we continue to navigate the pandemic and other macro uncertainties," said Chuck Robbins, chairman and CEO of Cisco. How nonprofit ZOA uses Cisco Meraki to connect remote offices and help those in need, Talking sustainability with Cisco's Fran Katsoudas, Swisscom Prepares for the Digital Future with Innovative Cisco IP Network, Cisco Commits $100 Million to Help Address Climate Crisis, SFR Strengthens Its Network with Cisco to Help Businesses Accelerate Digitization in France, Cisco Launches Digitization Program in South Korea to Accelerate Digital Transformation and Support Inclusive Pandemic Recovery, Cisco Becomes an Official Technology Partner of the NFL, Cisco Embraces Intel Innovation, Updates Server Portfolio, Cisco Secure Unveils Passwordless Future with Stronger Security, Non-GAAP EPS decreased (10)% year over year. We see many great opportunities ahead as every company in every industry is accelerating its digital-first strategy. Text of the conference call's prepared remarks will be available within 24 hours of completion of the call. One can find dozens of several calendars, a few of which build off of each other and are also incredibly identical. Witnessing the stock’s movement on the chart, on April 26, 2021, Cisco Systems Inc. (NASDAQ: CSCO) had a quiet start as it plunged -0.52% to $51.64. All rights reserved. We recognized $602 million of these charges during the first quarter of fiscal 2021. Q2 fiscal year 2021 conference call to discuss Cisco's results along with its guidance will be held on Tuesday, February 9, 2021 at 1:30 p.m. Pacific Time. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: the impact of the COVID-19 pandemic; business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, key growth areas, and in certain geographical locations, as well as maintaining leadership in routing, switching and services; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters, and governmental investigations; our ability to achieve the benefits of the announced restructuring and possible changes in the size and timing of the related charges; cyber-attacks, data breaches or malware; vulnerabilities and critical security defects; terrorism; natural catastrophic events; any other pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most recent report on Form 10-K filed on September 3, 2020. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most recent report on Form 10-K as it may be amended from time to time. https://newsroom.cisco.com/press-release-content?articleId=2139022 Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco. On December 21st, 2012, the earth was expected to stop. Third-party trademarks mentioned in this document are the property of their respective owners. In fiscal 2017, we set a three-year goal for 30% of our revenue to come from software, and while we achieved 29% in fiscal 2020, we did achieve 31% in the fourth quarter. Operating Income -- GAAP operating income was $2.6 billion, down 28%, with GAAP operating margin of 21.5%. SAN JOSE, Calif., Jan. 26, 2021 /PRNewswire/ -- Cisco has scheduled a conference call for Tuesday, February 9, 2021, at 1:30 PM (PT); 4:30 PM (ET) to announce its second quarter fiscal year 2021 financial results for the period ending Saturday, January 23, 2021. Conference call number is 1-888-848-6507 (United States) or 1-212-519-0847 (international). Gross Margin -- On a GAAP basis, total gross margin, product gross margin, and service gross margin were 63.6%, 62.7%, and 65.8%, respectively, as compared with 64.3% for each in the first quarter of fiscal 2020. On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 65.8%, 65.3%, and 67.1%, respectively, as compared with 65.9%, 66.1%, and 65.4%, respectively, in the first quarter of fiscal 2020. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. Infrastructure Platforms was down 16% and Applications was down 8%. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. SAN JOSE, Calif. , Jan. 26, 2021 /PRNewswire/ -- Cisco has scheduled a conference call for Tuesday, February 9, 2021 , at 1:30 PM (PT) ; 4:30 PM (ET) to announce its second quarter fiscal year 2021 financial results for the period ending Saturday, January 23, 2021 . A reconciliation between the Guidance for Q2 FY 2021 on a GAAP and non-GAAP basis is provided in the table entitled "GAAP to non-GAAP Guidance for Q2 FY 2021" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures. In Cisco reported first quarter revenue of $11.9 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.2 billion or $0.51 per share, and non-GAAP net income of $3.2 billion or $0.76 per share. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis. SAN JOSE, Calif., Oct. 29, 2020 /PRNewswire/ -- Cisco has scheduled a conference call for Thursday, November 12, 2020, at 1:30 PM (PT); 4:30 PM (ET) to announce its first quarter fiscal year 2021 financial results for the period ending Saturday, October 24, 2020. ", Amortization of purchased intangible assets. Revenue increased for the second half of fiscal 2021 but decreased in the annual results by 271.0 billion yen from the previous fiscal year to 4,191.4 billion yen as revenue decreased in all segments due to the serious impact of COVID-19 primarily in the first half. Quite a few believed that that Mayan calendar would be concluding, so would all daily life upon earth. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. https://newsroom.cisco.com/press-release-content?articleId=2091061 2021 2022 2023; Revenue: 49,311 51,319 52,575 Dividend: 1.44 1.49 1.56 Dividend Yield (in %) At the request of Cisco, today's conference is being recorded. Please credit us with the following information: Used with the permission of https://thenetwork.cisco.com/. https://myronpearlie.blogspot.com/2020/09/cisco-fiscal-year-calendar-2021.html Q1 fiscal year 2021 conference call to discuss Cisco's results along with its guidance will be held on Thursday, November 12, 2020 at 1:30 p.m. Pacific Time. All rights reserved. Provision for Income Taxes -- The GAAP tax provision rate was 18.9%. This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP interest and other income (loss), net, and non-GAAP net income per share data for the periods presented. Cash Flow from Operating Activities -- $4.1 billion for the first quarter of fiscal 2021, an increase of 14% compared with $3.6 billion for the first quarter of fiscal 2020. Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on divestitures, investments and other, net. Cisco Systems, Inc. earnings are expected to decrease by -6% in 2021, but the outlook is positive 5.81% per year for the next five years. © 2020 Cisco and/or its affiliates. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. Change in operating assets and liabilities, net of effects of acquisitions and divestitures: Net cash provided by operating activities, Purchases of investments in privately held companies, Return of investments in privately held companies, Proceeds from sales of property and equipment, Net cash (used in) provided by investing activities, Repurchases of common stock - repurchase program, Shares repurchased for tax withholdings on vesting of restricted stock units, Short-term borrowings, original maturities of 90 days or less, net, Net decrease in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash, beginning of period, Cash, cash equivalents, and restricted cash, end of period, DIVIDENDS PAID AND REPURCHASES OF COMMON STOCK, RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES, Amortization of acquisition-related intangible assets, Legal and indemnification settlements/charges, Significant asset impairments and restructurings, Total adjustments to GAAP operating expenses. 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