Exhibit 99.1

 

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Press Contact:       Investor Relations Contact:
Robyn Blum       Marilyn Mora
Cisco       Cisco
1 (408) 930-8548       1 (408) 527-7452
rojenkin@cisco.com       marilmor@cisco.com

CISCO REPORTS FOURTH QUARTER AND FISCAL YEAR 2019 EARNINGS

 

   

Q4 Results:1

 

   

Revenue: $13.4 billion

 

   

Growth of 6% year over year

 

   

Earnings per Share: GAAP: $0.51; Non-GAAP: $0.83

 

   

Non-GAAP EPS increased 19% year over year

 

   

FY 2019 Results:1

 

   

Revenue: $51.7 billion

 

   

Growth of 7% year over year

 

   

Earnings per Share: GAAP: $2.61; Non-GAAP: $3.10

 

   

Non-GAAP EPS increased 20% year over year

 

 

Q1 Guidance:1

 

   

Revenue: 0% to 2% growth year over year

 

   

Earnings per Share: GAAP: $0.64 to $0.69; Non-GAAP: $0.80 to $0.82

1 Normalized to exclude the divested SPVSS business

SAN JOSE, Calif. — August 14, 2019 — Cisco today reported fourth quarter and fiscal year results for the period ended July 27, 2019. Cisco reported fourth quarter revenue of $13.4 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 $3.6 billion or $0.83 per share.

As previously disclosed, Cisco completed the divestiture of the Service Provider Video Software Solutions (SPVSS) business in the second quarter of fiscal 2019 on October 28, 2018. Revenue, non-GAAP financial information, and Q1 FY 2020 guidance have been normalized to exclude the SPVSS business from prior periods for comparative purposes.

“Our Q4 results marked a strong end to a great year. We are executing well in a dynamic environment, delivering tremendous innovation across our portfolio and extending our market leadership,” said Chuck Robbins, chairman and CEO of Cisco. “We are committed to providing our customers ongoing value through differentiated solutions, and we are well positioned to take advantage of the long-term growth opportunities ahead.”

Q4 GAAP Results

 

     Q4 FY 2019      Q4 FY 2018      Vs. Q4 FY 2018  

Revenue (including SPVSS business for all periods)

   $ 13.4 billion      $ 12.8 billion        5

Revenue (excluding SPVSS business for all periods)

   $ 13.4 billion      $ 12.6 billion        6

Net Income

   $ 2.2 billion      $ 3.8 billion        (42 )% 

Diluted Earnings per Share (EPS)

   $ 0.51      $ 0.81        (37 )% 

Q4 GAAP results for fiscal 2019 and 2018 include a $0.9 billion charge and $0.9 billion benefit, respectively, related to the Tax Cuts and Jobs Act.

 

1


The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, August 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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