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Strategies & Market Trends : The New Economy and its Winners
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From: Bill Harmond5/14/2014 6:56:25 PM
   of 57684
 
Good night for Cisco:

14-May-14 16:54 ET In PlayCisco Systems sees FY14 EPS at the high end of prior guidance of $1.95-2.05, Capital IQ consensus $1.98 (22.80 -0.05) : Co anticipates Non-GAAP gross margin 61-62% (notes always challenging); Non-GAAP Operating margins between 27.5-28.5%.14-May-14 16:43 ET In PlayCisco Systems on Conference Call (22.80 -0.05) :
  • Three areas of business which remain a challenge: 1) emerging markets; Orders in emerging markets declined 7% with the BRICs+ Mexico down 13%; 2) Service provider orders were down 5% showing improvement from the -12% decline in Q2 and 13% decline in Q1. SP video revenue declined 26%; SP video orders declined 11%; 3) New product transitions; saw good momentum in high-end routing orders but it is still early in the transition.
  • Cloud and Internet of Everything remain key drivers of future growth
    • 14-May-14 16:35 ET In PlayCisco Systems expect Q4 revenues to decline 1-3% y/y, which would represent growth of approx 4-6% q/q (approx $12.0-12.2 bln); current Capital IQ consensus is $11.79 bln which was a decline of 5% y/y (22.80 -0.05) : 14-May-14 16:09 ET In PlayCisco Systems beats by $0.03, beats on revs (22.81 -0.05) : Reports Q3 (Apr) earnings of $0.51 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.48; revenues fell 5.5% year/year to $11.54 bln vs the $11.36 bln consensus.
  • Cisco repurchased ~90 million shares of common stock under the stock repurchase program at an average price of $22.24 per share for an aggregate purchase price of $2.0 billion during the third quarter of fiscal 2014.
    • 14-May-14 16:06 ET In PlayCisco Systems: CSCO sees an initial jump to AH highs in response to qtrly. earnings; CSCO @ 23.70 vs. 22.80 settle :

    14-May-14 16:05 ET In PlayCisco Systems prelim $0.51 vs $0.48 Capital IQ Consensus Estimate; revs $11.5 bln vs $11.36 bln Capital IQ Consensus Estimate :
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