Cisco's historical financial statements confirm -$809 million discrepancy in security sales
According to Cisco's historical financial statements, Q2'FY12 security sales were actually down -6.96% year-over-year, not up +24% as shown in its new statements.
Wed, 2/8/12 - 11:59pm View comments
Earlier today, Cisco bragged (page 4) that its Q2'FY12 security sales were up +24% year-over-year!
But according to Cisco's own historical financial statements, Cisco's Q2'FY12 security sales were actually down -6.96% year-over-year!
Cisco's Historical FY10 Financial Statements
Cisco's New FY10 Financial Statements
The -24.43% (i.e. -$809 million) descrepancy between the historical and new FY10 + FY11 Cisco 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 historical and new sales reporting categories)
|Total Cisco Security FY10 + FY11 Product Sales Discrepancy: -$809 million
|Total Cisco Security FY10 + FY11 Product Sales Discrepancy Percentage: -24.43%
Where did the -$809 million discrepancy go?
Note: Cisco did not respond to my repeated requests for clarification, nor did Cisco clarify the -$809 million discrepancy in its Q2'FY12 earnings call nor its Q1'FY12 earnings call.
Unconfirmed rumor Cisco offered $2.5 billion to buy Palo Alto Networks and was turned down
Cisco's Q2'FY12 switching, routing, collaboration revenues and product gross margin sequentially declined
Why did Cisco deflate its FY11 security product sales by -$382 million?
What's your take?
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