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Discrepancies found in Cisco's Q1'FY13 vs. Q1'FY12 net product sales

Cisco appears to be taking "questionable liberties" in the preparation of its quarterly Form 10-Q financial statements.

Hershey, PA:   Tue, 11/20/12 - 11:59pm    View comments

Cisco Investor RelationsI've been updating a spreadsheet that details Cisco's historical quarterly net product sales.

So I was quite surprised by the discrepancies found in Cisco's Q1'FY13 vs. Q1'FY12 net product sales. In my opinion, Cisco appears to be taking "questionable liberties" in the preparation of its quarterly Form 10-Q financial statements:

Cisco's Q1'FY13 Form 10-Q Financial Statement (page 51)

Cisco's Q1'FY13 Form 10-Q Financial Statement
Source: U.S. Securities and Exchange Commission
 

Cisco's Q1'FY12 Form 10-Q Financial Statement (page 45)

Cisco's Q1'FY12 Form 10-Q Financial Statement
Source: U.S. Securities and Exchange Commission
 

Discrepancies found in Cisco's Q1'FY13 vs. Q1'FY12 net product sales

Net Product Sales
(millions)
Q1'FY13
October 29, 2011
Q1'FY12
October 29, 2011
Cisco's
Discrepancy
Switching $3,687 $3,675 +$12
NGN Routing 2,094 2,108 -14
Collaboration 1,108 1,093 +15
Service Provider Video 883 879 +4
Wireless 353 362 -9
Security 319 320 -1
Data Center 259 259 0
Other 249 256 -7

TOTAL $8,952 $8,952 $0

Source: U.S. Securities and Exchange Commission

Note: Emailed a request for explanation to 10 of Cisco's top Public Relations and Investor Relations executives and received absolutely no response!

Related story:

Cisco's Q1'FY13 switching, routing, collaboration and other revenue declined year-over-year (YOY)
 


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