Cisco Systems Inc (CSCO.OQ) Key Developments |
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Provider : Wright Reports
Provider : Thomson Reuters Stock Report
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Cisco Systems Inc gives Q1 2015 guidance in line with analysts' estimates; gives Q1 2015 charge guidance; announces restructuring action in FY 2015 - conference call

Wednesday, 13 Aug 2014 04:30pm EDT 

Cisco Systems Inc:Sees Q1 2015 revenue to be flat to up 1 pct. Year over year.Sees Q1 2015 non-GAAP EPS to be $0.51 - $0.53.Sees Q1 2015 GAAP earnings to be lower than non-GAAP EPS by $0.14 to $0.18 per share.Says that it will recognize pretax charges to GAAP financial results of up to $700 million.Says that it expect about $250 million to $350 million of these charges will be recognized during Q1 2015, remaining amount recognized during the rest of the fiscal year.Also announces restructuring action in FY 2015 that will be focused on continuing to invest in growth, innovation, and talent while managing costs and driving efficiencies.Says these actions will impact up to 6,000 employees, representing about 8 pct. of the company's global workforce.Reported revenue of $12.085 bln in Q1 2014.Q1 2015 revenues estimates of $12.106 bln - Thomson Reuters I/B/E/S.Q1 2015 EPS estimates of $0.53 - Thomson Reuters I/B/E/S. 

Company Quote

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