Video of Cisco CFO Frank Calderoni talking to Yahoo Tech Ticker’s Aaron Task about our Q309 earnings. Frank discusses our operational excellence in the quarter, what we’re hearing from customers and how we might use our $33.5B in cash.
We just announced Q3 earnings. From our press release:
“Cisco delivered solid financial performance despite a challenging global economy and period of evolving market dynamics,” said John Chambers, chairman and chief executive officer, Cisco. “These results demonstrate our ability to drive operational excellence and manage profitability across varying economic cycles. We will use this period of market transition to align and optimize resources, make strategic investments, move into market adjacencies and enhance relationships with our customers. As we exit the quarter with a compelling financial position and an innovation engine from both a products and business model perspective, we believe we are well positioned for the eventual economic recovery.”
Video commentary from Frank Calderoni, EVP and CFO
There is much interest on the tax deferral issue today. Here is our statement on this issue:
“Cisco would be adversely affected if tax deferral was eliminated by U.S. If rules are changed on tax deferral and we are taxed in the U.S. on non-U.S. profit, this significant additional U.S. tax cost would adversely impact our ability to invest and grow our business in the U.S. (R&D, capital investment, jobs, wages, etc.), and to compete against our foreign competitors who are not subject to this U.S .tax.”
If you are with the media and you have questions, you may contact me at jearnhar (at) cisco.com.
As a reminder, we announce our Q3 earnings this Wednesday after market close. More information on that here: http://www.cisco.com/go/investorsToday, we highlight our “wins” and news of the previous quarter, including new products, new acquisitions and customers. We also produced some short videos of our CTO, Padmasree Warrior (or @Padmasree for you Tweeters) talking about Unified Computing; and Ned Hooper, SVP, Corporate Development and Consumer Group talking about our 3 acquisitions this quarter and “build, buy, partner” strategy.Ned Hooper, SVP, Corporate Development and Consumer Group Read More »
This week, in a remarkable speech to the National Academy of Sciences, President Obama laid out a bold vision for America to maintain its global lead in innovation. In his remarks, the President said, “Scientific innovation offers us a chance to achieve prosperity. It has offered us benefits that have improved our health and our lives — improvements we take too easily for granted.”I could not agree more that America can’t take innovation for granted. One of the most important ways we can ensure continued U.S. scientific leadership is to make needed reforms to our patent system. I had the honor of testifying today at a hearing of the U.S. House Judiciary Committee in favor of the Patent Reform Act of 2009 (HR 1260). My basic message was this: At a time when we must do everything possible to stimulate economic growth and job creation, the flaws in our patent law drain resources away from research and job creation, and toward unjustified patent suits. The longer we wait to address these widely acknowledged problems, the more we will sap the innovation and job creation potential of the tech industry. Read More »