Key Developments: Cisco Systems Inc (CSCO.OQ)
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Latest Key Developments (Source: Significant Developments)
Cisco Systems Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates-Conference Call
Cisco Systems Inc announced that for the fourth quarter of 2013, it expects revenue growth to be in the range of 4% to 7% on a year-over-year basis, non-GAAP earnings per share (EPS) to range from $0.50 to $0.52 per share, and GAAP earnings to be $0.07 to $0.10 per share lower than non-GAAP EPS. The Company reported revenue of $11.690 billion in the fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $12.472 billion and EPS of $0.51 for the fourth quarter of 2013. Full Article
Marathon Patent Group Inc's Relay IP Files Patent Infringement Lawsuits Against Cisco Systems Inc and Others
Marathon Patent Group Inc's Relay IP (Relay) has filed patent infringement lawsuits in the United States District Court for the District of Delaware against Sprint Nextel Corporation, Juniper Networks, Cisco Systems, Bloomberg L.P., Hitachi Cable America, D-Link Corporation, Avaya, Hewlett-Packard Company, Enterasys Networks, Extreme Networks, TIBCO Software, BT Group, SAVVIS Inc., Zhone Technologies, Huawei Technologies, Allied Telesis, and Adtran (the Defendants). Relay is asserting infringement related to U.S. Patent number 5,331 ,637, entitled Multicast Routing Using Core Based Trees. The lawsuit alleges that the Defendants have infringed, and continue to infringe, the claims of the patent in suit by using the accused IP Multicast systems and methods covered by the claims of the Relay patent. Full Article
Cisco Systems Inc, IBM And Others Team Up On New Technology Project-Reuters
Reuters reported that Cisco Systems Inc, International Business Machines Corp (IBM) and Citrix Systems Inc have joined forces with other tech companies in a consortium to kickstart the corporate market for software-defined networking (SDN), aimed at making network management easier and cheaper. Other members of the development platform called OpenDaylight include Juniper Networks, Inc., VMware Inc, Microsoft Corp, Red Hat, Inc., Intel Corp and Brocade Communications Systems Inc as well as privately held Big Switch Networks and Arista Networks. Each member will contribute technology such as code to the project in an effort to share the costs of basic research and development, and enable products from different vendors to work together. Vendors will still be able to customize their offerings to differentiate themselves from rivals. The SDN market is still considered nascent, but is expected to grow to $3.7 billion by 2016 from an estimated $360 million this year, according to research firm IDC. The first code from OpenDaylight is expected to be released in the third quarter of this year. Full Article
Cisco Systems Inc Increases Quarterly Dividend 21% To $0.17-The Canadian Press
The Canadian Press reported that Cisco Systems Inc will pay a $0.17 quarterly dividend on April 24, 2013 to shareholders of record April 8, 2013. That's up $0.03 from the last quarter. Full Article
Cisco Systems Inc Completes Acquisition Of Intucell
Cisco Systems Inc announced that it has completed its acquisition of privately held Intucell, based in Ra'anana, Israel. Intucell provides advanced self-optimizing network (SON) software, which enables mobile carriers to plan, configure, manage, optimize and heal cellular networks automatically, according to real-time changing network demands. The acquisition of Intucell enhances Cisco's commitment to global service providers by adding a critical network intelligence layer to manage and optimize spectrum, coverage and capacity, and ultimately the quality of the mobile experience. Intucell employees will be integrated into Cisco's Service Provider Mobility Group. Under the terms of the agreement, Cisco paid approximately $475 million in cash and retention-based incentives to acquire the entire business and operations of Intucell. Full Article
Cisco Systems Inc Issues Q3 2013 Guidance In Line With Analysts' Estimates-Conference Call
Cisco Systems Inc announced that for the third quarter of 2013, it expects revenue growth to be in the range of 4% to 6% on a year-over-year basis. This assumes that the Company's divestiture of the Linksys product line, which has been approximately 1% of its product revenue closes mid quarter and will no longer be contributing to its top line. The Company's third quarter 2013 non-GAAP earnings per share is expected to range from $0.48 to $0.50 per share (EPS) and anticipate GAAP earnings in third quarter 2013 to be $0.08 to $0.11 per share lower than its non-GAAP EPS. The Company reported revenue of $11.588 billion in the third quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $12.220 billion and EPS of $0.49 for the third quarter of 2013. Full Article
Cisco Systems Inc Sells Home Networking Business To Belkin-Reuters
Reuters reported that Cisco Systems Inc is selling its home networking business to Belkin, to exit the consumer business. The companies did not disclose the financial terms of the deal, which Belkin said it is expected to close in March. Full Article
Cisco Systems Inc Announces Intent to Acquire Intucell
Cisco Systems Inc announced that it intents to acquire privately held Intucell. Headquartered in Ra'anana, Israel, Intucell provides advanced self-optimizing network (SON) software, which enables mobile carriers to plan, configure, manage, optimize and heal cellular networks automatically, according to real-time changing network demands. Upon the close of the acquisition, Intucell employees will be integrated into Cisco's Service Provider Mobility Group. Under the terms of the agreement, Cisco will pay approximately $475 million in cash and retention-based incentives to acquire the entire business and operations of Intucell. The acquisition is expected to close in the third quarter of Cisco's fiscal year 2013. Full Article
Cisco Systems Inc Acquires Minority Stake In Russia's Parallels-Reuters
Reuters reported that Cisco Systems Inc has acquired a small stake in Russian software developer Parallels. Parallels said in a statement that Cisco has bought about 1% of the Company and added that the stake sale does not rule out a possible Initial Public Offering of the Russian firm. Full Article
National Grid Selects Itron Inc and Cisco Systems Inc's Smart Grid Solution For Pilot Program
Itron Inc. announced that National Grid, a supplier of electricity to approximately 3.4 million customers in the Northeast, has selected Itron`s smart grid solution which uses Cisco Systems Inc's multi-application communications network for the utility`s 10,000 meter Smart Grid Pilot Program in Worcester, Mass. This project adds to the 5,000 meter early field trial (EFT) that started in February 2012 in Worcester. National Grid will begin deploying the full pilot in early 2013. Full Article
Aruba Networks sees weak fourth quarter as Cisco competition intensifies
- Network equipment maker Aruba Networks Inc forecast fourth-quarter results well below Wall Street expectations hurt by rising competition from Cisco Systems Inc , sending its shares down 17 percent after the bell.
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