Well, I'm very curious to hear if Wall Street calls-out Cisco CEO John Chambers and/or Cisco CFO Frank Calderoni with regard to the absolutely huge FY11 deflated and/or inflated Cisco security product sales figures.
In less than 2-years Cisco changed its product sales reporting categories twice:
Most noteworthy, there were only 2 product sales categories that Cisco did not make additions and/or substractions to: Wireless and Security.
All of the other Cisco product sales categories had either additions and subtractions made or both.
Last week I received the following email message:
I mean, the above email caught me totally off-guard as it NEVER occurred to me that Cisco would play fast and loose with its product sales reporting, especially given the litigious society we live in today.
So I emailed and then spoke by phone with Cisco's top notch and in my opinion most responsive media contact, Marc Musgrove - Director of Cisco's Global Communications. Marc said he could not respond to my inquiry because of U.S. Securities and Exchange Commission "quiet period laws."
The below -1.10% (i.e. -$16 million) descrepancy between the old and new FY11 Cisco wireless product sales reporting could possibly be attributed to a "rounding error."
Cisco's wireless quarterly product sales in millions (under both Cisco's old and new sales reporting categories)
Total Cisco Wireless FY11 Product Sales Discrepancy: -$16 million
Total Cisco Wireless FY11 Product Sales Discrepancy Percentage: -1.10%
However, Cisco's -24.14% (i.e. -$382 million) descrepancy between the old and new security product sales reporting most certainly can't be attributed to a "rounding error."
Cisco's security quarterly product sales in millions (under both Cisco's old and new sales reporting categories)
