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650-325 - SP Video Phase II Cable Access - Dump Information

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Exam Code : 650-325
Exam Name : SP Video Phase II Cable Access
Questions and Answers : 20 Q & A
Updated On : April 19, 2018
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650-325 SP Video Phase II Cable Access

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650-325 Certification Brain Dumps Source : SP Video Phase II Cable Access

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Cisco programs' (CSCO) CEO John Chambers Hosts Investor Day 2015 (Transcript) | killexams.com real questions with brain dumps

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    Cisco systems' CEO Discusses Q3 2012 outcomes - income name Transcript | killexams.com real questions with brain dumps

    John T. Chambers - Chairman, Chief govt Officer and Member of Acquisition Committee

    Frank A. Calderoni - Chief economic Officer and govt vp

    Robert W. Lloyd - executive vice chairman of global Operations

    Gary B. Moore - Chief working Officer and government vice chairman

    Brian T. Modoff - Deutsche financial institution AG, research Division

    Simon M. Leopold - Raymond James & associates, Inc., analysis Division

    Rod B. hall - JP Morgan Chase & Co, research Division

    Matthew S. Robison - Wunderlich Securities Inc., research Division

    Jayson Noland - Robert W. Baird & Co. integrated, analysis Division

    Cisco Systems' Third Quarter and Fiscal Year 2012 Financial Results Conference Call. At the request of Cisco Systems, today's call is being recorded. If you have any objections, you may disconnect. Now I would like to introduce Melissa Selcher, Senior Director, Analyst and Investor Relations. Ma'am, you may begin." data-reactid="29">Welcome to Cisco systems' Third Quarter and monetary yr 2012 economic consequences convention call. at the request of Cisco techniques, latest name is being recorded. you probably have any objections, you can also disconnect. Now i want to introduce Melissa Selcher, Senior Director, Analyst and Investor members of the family. Ma'am, you may additionally begin.

    thanks. first rate afternoon, everyone, and welcome to our 89th quarterly convention name. here's Melissa Selcher, Senior Director of Analyst and Investor members of the family, and i'm joined by John Chambers, our Chairman and Chief government Officer; Frank Calderoni, government vice chairman and Chief fiscal Officer; Rob Lloyd, govt vice president of worldwide Operations; and Gary Moore, government vice chairman and Chief operating Officer.

    Cisco website at http://newsroom.cisco.com. I would like to remind you that we have corresponding webcast with slides. Additionally, downloadable Q3 financial statements will be available following the call in the Investor Relations section of our website, including revenue and gross margin by geographic segments, as well as revenue by product categories. Income statements, full GAAP to non-GAAP reconciliation information, balance sheets and cash flow statements can also be found on our website in the Investor Relations section. Click on the Financial Reporting section of the website to access the webcast slides and these documents." data-reactid="32">The Q3 fiscal 12 months 2012 press unencumber is on the U.S. high tech Marketwire and on the Cisco site at http://newsroom.cisco.com. i want to remind you that we now have corresponding webcast with slides. moreover, downloadable Q3 monetary statements should be obtainable following the call in the Investor members of the family component of our web site, together with salary and gross margin with the aid of geographic segments, in addition to income by using product categories. earnings statements, full GAAP to non-GAAP reconciliation information, balance sheets and cash movement statements can even be found on our web page in the Investor family members section. click on on the economic Reporting portion of the web page to entry the webcast slides and these documents.

    An audio replay of this name should be purchasable from may additionally 9 via might also 16 at (866) 493-8039 or (203) 369-1749 for foreign callers. A webcast replay is obtainable from can also 9 via July 20 on Cisco's Investor relations web site at investor.cisco.com.

    throughout this conference call, we will be referencing both GAAP and non-GAAP monetary consequences. The financial results in the press unlock are unaudited. The matters we'll be discussing nowadays include forward-searching statements, and as such, are area to the dangers and uncertainties that we mentioned in detail in our documents filed with the SEC, exceptionally the most fresh stories on kind 10-Q and 10-okay and any applicable amendments which determine vital chance components that could cause exact effects to differ materially from those contained in the forward-searching statements. Unauthorized recording of this convention name isn't accepted.

    i could now turn it over to John for his commentary on the quarter.

    John T. Chambers

    thanks, Mel. i am comfortable to share another quarter of solid execution on our 3-year plan of persevered ecocnomic increase. For the 2nd quarter in a row, we delivered listing revenues, list non-GAAP salary per share and record non-GAAP operating revenue and non-GAAP web profits. We consider our vision and method are working. Our price proposition and intellect share with our customers are very strong. One instance would be our traction and relative performance with our service product consumers, which represents about 1/three of our complete company and the place we agree with we now have taken wallet share just about across-the-board.

    We continue to be #1 or #2 in virtually each product market the place we play. at the identical time, we have maintained or won share year-over-yr within the majority of product classes throughout service provider, business and business within the most contemporary quarter for which the market share facts is purchasable. additionally, we are sometimes named the accurate IP vendor by using our very important channel partners.

    We continue to be focused on our 5 foundational priorities and the position of clever networks in riding our client's enterprise. In a world of cloud, video and mobile machine proliferation, the position of the network and principally the intelligent community has on no account been more suitable. In all elements of IT, we certainly are getting extra mobile, extra social, digital and visible.

    As we've carried out for the past twenty years, we've again demonstrated our potential to catch the market transitions that remember most to our customers and have delivered the innovation and the market-main items to allow our client's success. The acceleration of the information core and chiefly the usenterprise years ahead of our competitors is only one example where we grew Q3 profits over 50% -- 57% yr-over-yr for the usbusiness, while each of our top 2 facts middle competitors had flat or poor increase in their carrier business within the most fresh quarter.

    Our effects from the statistics core over the ultimate year are an example of our background of seeing market developments early and having the potential to react straight away both technologically as well as operationally. we have completed what we mentioned we'd do and position the business for lengthy-term growth and shareholder value, and we proceed to do the work internally to place the enterprise going forward.

    With the assist of the whole company, we have put the methods, accountability and buildings in location to permit Cisco's future growth and place us to remain the agile and business-leading business our consumers, companions, employees and extremely importantly, our shareholders, expect. we've an effective game plan, and in our view, are correctly executing in opposition t the plan even within the face of ongoing financial challenges and cautious IT spending exceptionally in the business money owed.

    We trust we are able to continue to create value for our shareholders through balancing correct line boom and the latest ambiance with a disciplined center of attention on operational execution and effectivity. We continue to be committed to our long-time period fiscal model as outlined to you prior to now.

    With this call, i'll first flip it over to Frank for a discussion of the Q3 economic effects. Then i'll walk via what we're seeing and the place we're concentrated going forward. Frank will then aspect our information, after which i could wrap it up heading as much as Q&A with Mel.

    Frank, let me now turn it over to you.

    Frank A. Calderoni

    Thanks, John, and first rate afternoon, all and sundry. We had a high-quality third quarter with complete profits of $11.6 billion, up 7% year-over-12 months. complete product profits became $9.1 billion, up about 5% yr-over-year. We noticed single-digit revenue increase in our universal core product corporations and double-digit growth in a number of different areas of our portfolio. John's going to cowl this in additional detail later in the call.

    capabilities revenue turned into $2.5 billion, a rise of about 13% yr-over-12 months. total product ebook-to-bill for Q3 turned into about one. Q3 FY '12 total non-GAAP gross margin changed into sixty three.1%. That changed into up 0.7% quarter-over-quarter and down 0.eight% 12 months-over-12 months. For product-most effective, non-GAAP gross margin for the third quarter changed into sixty two.0%, an increase of 1.1% quarter-over-quarter. The boost become essentially driven by way of favorable mix and price discounts, partly offset by way of pricing, discounts and rebates.

    On a yr-over-yr groundwork, non-GAAP product gross margin decreased 1.1%. We had been comfortable to peer the solid gross margin performance in particular in our core product areas of switching and NGN routing, which on a combined basis, mirrored quarter-over-quarter advancements in addition to endured gross margin stability. Our non-GAAP functions margin for the third quarter become 67.1%, down 0.9% quarter-over-quarter and up 0.1% 12 months-over-year.

    Turning to our geographic performance. Our yr-over-yr complete earnings grew throughout all geographic regions, with increases of 3% for the Americas, 5% for EMEA and 24% for APJC. The growth within the APJC region become driven by way of power in each product and service revenues throughout most of our client segments led with the aid of provider company, which benefited from the completion of a couple of colossal multiyear initiatives within the place.

    total non-GAAP gross margin with the aid of geographic vicinity became 62.7% for the Americas, 63.9% for EMEA and 63.three% for APJC. On 1 / 4-over-quarter groundwork, Americas become flat, while EMEA lowered 0.6 facets and APJC elevated 5.eight aspects. involving the boost in APJC, we saw merits from reduce coupon codes, product mix, charge discounts and volume, including the multiyear projects I pointed out up to now.

    Non-GAAP working prices were 34.5% of profits or approximately $4 billion in Q3 FY '12. That turned into up about $80 million as in comparison to the previous quarter. Our accelerated G&A expenses in Q3 mirrored investments in our operational infrastructure, together with real estate, IT venture implementations and investments regarding operational and fiscal systems.

    we're glad to look persevered stability in our non-GAAP gross margin in addition to strength in our general non-GAAP working income, which grew 12% year-over-year and became 28.6% of revenue in Q3. We grew gains quicker than revenue in step with our typical strategic fiscal goals. we will proceed to target non-GAAP operating margin per our 3-yr model balancing investments between gross margin and operating price.

    Our Q3 FY '12 non-GAAP tax provision fee become 22%. Non-GAAP internet salary for the third quarter become $2.6 billion, representing a rise of 11% year-over-12 months. As a percent of income, non-GAAP internet salary become 22.5%. Non-GAAP earnings per share on a completely diluted basis for the third quarter changed into $0.48 versus $0.forty two in the third quarter of fiscal year 2011, a 14% increase 12 months-over-12 months.

    GAAP web income for the third quarter become $2.2 billion as in comparison to $1.8 billion in the third quarter of fiscal year 2011, an increase of 20% year-over-12 months. revenue -- GAAP profits per share on a completely diluted basis for the third quarter have been $0.forty versus $0.33 within the identical quarter of fiscal 12 months 2011, a rise of 21% year-over-12 months.

    Now relocating on to the balance sheet. the overall of cash, money equivalents and investments at quarter conclusion turned into $48.4 billion, up about $1.7 billion from last quarter. Of this total steadiness, approximately $6.1 billion become obtainable in the U.S. at the conclusion of the quarter.

    Our money move from operations in the third quarter changed into approximately $3 billion. Our bills receivable stability become $4 billion on the end of Q3 FY '12. also on the conclusion of Q3, days revenue impressive, or DSO, become 31 days, in keeping with final quarter and down from 37 days on the conclusion of Q3 FY '11. On a yr-over-12 months foundation, the decrease in DSO changed into driven through continued shipment linearity, and going ahead, we do predict DSO to be within the latitude of 30 to 40 days given the enterprise mix, the linearity and as smartly as the boom of our functions company.

    total inventory at the conclusion of third quarter was $1.5 billion that was down $1.6 billion -- from $1.6 billion in Q2 FY '12. Non-GAAP stock turns had been 11.1 this quarter. that's up three/10 in comparison to remaining quarter and up to 8/10 from Q3 fiscal 2011.

    stock purchase commitments on the end of Q3 were $4.four billion. it truly is up about $one hundred eighty million quarter-over-quarter. total deferred revenue became $12.6 billion on the end of Q3, a rise of about eight% compared with Q3 FY 'eleven. Deferred product salary grew $three.9 billion -- to $3.9 billion or roughly 5% 12 months-over-12 months, and deferred functions revenue turned into about $eight.eight billion, a rise of about 10% yr-over-12 months.

    Our headcount on the conclusion of Q3 totaled sixty five,223, up 1,353 quarter-over-quarter. This changed into driven basically by using hires in aid of salary boom alternatives in capabilities, in addition to strategic engineering hiring.

    in the third quarter, we lower back about $1 billion in money to our shareholders through our stock repurchases and dividend funds. all through Q3, we repurchased $550 million of normal stock beneath the stock repurchase application or 27 million shares at a normal cost of $20.28 per share. A dividend price of $432 million, representing $0.08 per share, became also declared and paid all over the quarter.

    As we have pointed out up to now, our capital allocation approach continues to be committed to returning cash to our shareholders through a mixture of dividends and our share repurchase application. Over the long run, we intend to continue to strongly help the dividend while assessing alternatives to raise it over time. Our flexibility is restricted according to our U.S. cash position except we see reform in U.S. company revenue tax policies.

    Now let me flip it over to John for further color on the quarter. John?

    John T. Chambers

    thank you, Frank. Now for a greater detailed discussion on geographic and certain product effects. After the intensive work we undertook final 12 months, the components of our company that we will handle are largely match. we are squarely concentrated on the areas of maximum possibility and boom and are executing neatly. despite the fact, we are nonetheless in an uncertain ambiance economically and in international standpoint.

    We continue to look the have an effect on of the areas of concern we have mentioned for the final few quarters. those have been, just to repeat them: Europe and the international economic climate, public sector, India and conservative IT spend as mirrored within the commentary of our friends. every of these areas has proven to be a challenge as we anticipated, and a number of Europe and client conservatism have gotten worse.

    the following geographic and client phase boom charges are in terms of 12 months-over-12 months product orders except chiefly stated otherwise. In Q3, Cisco's total product orders grew approximately 4% year-over-yr.

    searching at the numbers from a geographic viewpoint, specially the Americas grew product orders by way of 5% year-over-12 months. EMEA grew product orders -- i'm sorry, become flat 12 months-over-yr. we've considered the considerations of southern Europe expand. principal and northern Europe have their own set of challenges. On the high quality aspect, our emerging markets in EMEA grew 12% yr-over-yr, and Russia, as a part of that rising market community, was up 22% 12 months-over-year.

    Asia-Pacific, Japan and China grew with the aid of 7% yr-over-yr. As expected, we endured to peer weak point in India. On the high quality side, Japan continues to perform extremely neatly for us, with orders growing to be 39% year-over-year. China declined via eight% due primarily to the timing of a couple of enormous offers. I do accept as true with we will proceed to pressure even more desirable efficiency within the rising markets as a result of we've the groups focused on our programs, portfolio and income and companion coverage in these regions.

    relocating on to a client market view. peculiarly, carrier providers grew 5%, business become down 1%, industrial grew 8%, public sector turned into up three% yr-over-year. while carrier company CapEx budgets have been very tight in the quarter, our carrier provider section endured to function neatly. In Q3, SP orders grew 5%, with the Americas transforming into 5% and in the Americas, the U.S. service issuer group becoming at 9%. whereas in Asia-Pacific, Japan and China, SP grew through eight%; and in EMEA, grew through 1%.

    Cisco's architectural strategy has differentiated us inside the provider providers and allowed us to take pockets share on a worldwide foundation, principally should you consider some of our friends like Juniper where their revenues declined within the most contemporary stated quarter by means of 6% and over -- a decline of over 20% in routing in that quarter. Huawei's SP enterprise, as stated of their most contemporary documentation, changed into up nearly 3% yr-over-year even if they're in emerging markets and a part of what may still be the fastest-transforming into. And Alcatel's earnings was down 12% yr-over-yr.

    As we discussed, our foundational priorities align virtually one-to-one with our carrier providers clients' suitable priorities. all over, we are partnering closely with the aim of using new monetization alternatives for them, and in so doing, even greater chance for Cisco.

    As you have got seen in our business order growth and the traits over time, we're seeing hesitant spending environment. at present, we aren't seeing a big downturn within the ambiance nor are we seeing new challenges in our own business. we are seeing better -- longer sales cycles, more signal-off and smaller deal dimension. again, what is all focused when it comes to a extra cautious environment and uncertainty from a CEO viewpoint.

    Our aggressive position continues to be very amazing in our commercial enterprise and industrial accounts, the place a 12 months ago, the concern become competitors gaining share. one year later, that has not came about and in many of them, we're really getting dramatic market share versus those competitors that some individuals have been involved about earlier than.

    over the past yr, we now have made gigantic changes to our company that permit us to respond and adjust to a cautious environment, and we will proceed to be laser-concentrated on profitable execution. right here dialogue on products will be when it comes to revenues 12 months-over-year except otherwise stated.

    our efficiency throughout our portfolio, we continue to peer strong efficiency across most of our precedence areas, with a couple of areas where we deserve to be improving. Product earnings grew a complete of 5%, with switching up 5% year-over-12 months to $three.6 billion; subsequent-era networks, or NGN routing flat at $2.1 billion; and with services up, Gary, congratulations, 13% year-over-year.

    information center income endured to develop very unexpectedly at sixty seven%, while collaboration earnings changed into flat. We did see double-digit increase in wireless at approximately 20% when it comes to profits. provider company video grew at 12%, security become up 9%. i'll right now stroll through the highlights from our 5 foundational priority areas. All these numbers, once again, are in terms of revenue yr-over-year boom unless in any other case cited.

    Cisco will lead in the current and future evolutions of networking. Specifically, I am pleased with the continued performance of our switching portfolio. We saw relative strength this quarter with the modular portfolio and continued to see the ramp of the Nexus line with the Nexus 2000 and Nexus 5000 combined, growing approximately 75% year-over-year." data-reactid="82">First, with the core. Our purchasers are confident that Cisco will lead in the existing and future evolutions of networking. exceptionally, i am glad with the persevered efficiency of our switching portfolio. We noticed relative power this quarter with the modular portfolio and endured to see the ramp of the Nexus line with the Nexus 2000 and Nexus 5000 mixed, transforming into about seventy five% 12 months-over-year.

    Our switching margins proceed to be good and at the stages of a couple of years ago. Our particular activity is that our Nexus 7000 is now inside 6 gross margin aspects of the Catalyst 6500, and as you may also bear in mind 1.5 years in the past, that delta changed into 17 aspects.

    The transition from 1-gig to 10-gig is enabling functions in video to work throughout the network in ways that permit ultra-modern company demands. For Cisco, we are seeing powerful transition to 10-gig E drivers riding better ASPs and extra server company, with Nexus 10-gig orders becoming about 10% quarter-to-quarter and forty% yr-over-12 months and Nexus ports transforming into at ninety% yr-over-12 months.

    NGN routing revenues were flat this quarter, with high-end routing up greatly and optical down. whereas our revenues on the edge of the network where our ASR 9000 had been up over 80%, a local that a year in the past some people regarded a priority for Cisco.

    We additionally continued to peer strong performance in the core, where our flagship CRS-three has achieved $1 billion in total orders in just 1.5 years. Key takeaway here is so in both of these key locations within the community, we accept as true with our legacy platforms are smartly on their technique to transitioning to the brand new products.

    In one other area in Q3, we persisted to deliver out robust new items in security and wireless. An example of that may be the AP 3600. This flagship wireless product was launched final quarter and is off to a fine start. in the records core, our cost proposition around Cisco's unified cloth combining storage, networking and processors in an architectural method continues to resonate strongly with our valued clientele.

    There are a few further facets in the statistics middle i would like to call out for you. We had an extra very effective quarter in united states of americaservers, with year-over-year boom of approximately 57%. This become certainly appealing on the grounds that our 2 greatest statistics core opponents appear to be flat or a poor growth during this enviornment. despite the fact, as our facts center enterprise grows, and increases in penetration, we should still beginning to more carefully tune normal server seasonality more than we now have in our hyper boom beginning-up section.

    In our view, the investments we made in the unification of server, storage and computing is working as we see ongoing traction to the business and private cloud with powerful, built-in, win-leveraging solutions similar to Vblock and FlexPod. Our strategic partnership with EMC and VMware is going extremely well. This quarter, all geographies noticed effective cloud structure boom, with the emerging international locations leading the manner.

    And in carrier providers, we are actually the $1 billion order run rate when it comes to their cloud implementations. the key takeaway is not only that our records center business is going potent, however our industry leadership within the cloud is fitting greatly authorized across leading purchasers all over the world.

    relocating on to collaboration and video. Our Q3 efficiency in collaboration being flat isn't the place we expect it to be. And as you may predict, we are placing an aggressive action plan in vicinity with specific focal point on our revenue execution. part of this problem is market-driven and part of it's our should execute extra conveniently.

    extra notably on collaboration. expanded revenue of IP telephones inside our Unified communique products have been offset by using earnings decline in other products in the portfolio. Our TelePresence business, as an instance, has traditionally had giant success in the public sector and enterprise markets. As we noticed continuous force in public sector and enterprise spending, we additionally noticed the have an impact on on our TelePresence effects.

    On video, pervasive video is front and center in just about every client's intellect, from the individual pills all the means via to the wholly-enabled TelePresence conference rooms. Open standards and interoperability are a need to in our opinion in this video structure.

    We proceed to seem ahead to the close of our NDS acquisition announced in March. This transaction, which remains area to regulatory evaluation, was tremendously expanded the pace with which we will aid our service providers and, in broader set of media gamers, installation and monetize the next-generation video experiences. both our service provider customers and the key business analysts understood the value of this deal immediately when it changed into announced. I had for my part talked to over 20 of these valued clientele about this acquisition and our video strategy of evolving in the cloud with Videoscape. each one of them is aware the significance of this movement and the advantages it gives to them.

    Cisco's competitive differentiation and collaboration lies with our open strategy to voice, video and cellular client. With the brand new collaboration offers together with Jabber, which is our new application application bringing fast messaging, conferencing, voice and TelePresence video to assorted devices, the customer can set up across any working system, including home windows, Mac, iOS, Android and BlackBerry. This open approach addresses a market that demands interoperability, people-centric experiences, and it is our job to capitalize on this opportunity.

    On architectures, many recent third-celebration surveys have seen and imply strongly that we continue to gain relevance within the eyes of our customers as a accomplice to handle their most beneficial technology, company challenges and alternatives. One highlight this in previous quarters is our advanced features business, which has viewed mighty energy in both increase and margins as our consumers address their hardest and most essential technologies and enterprise alternatives.

    Cisco or together with our partners, accelerate the success and time-to-market of the technology solutions and architectures driving their business and parities." data-reactid="97">for instance, in cloud and BYOD, we've got viewed mighty demand for superior provider offerings. We strongly agree with these professional provider, whether delivered from Cisco or along side our partners, speed up the success and time-to-market of the expertise solutions and architectures driving their company and parities.

    eventually, probably the most biggest market transitions occurring within the trade is the explosion of mobility and machine proliferation. Mobility covers points in each of our correct 5 foundational priorities. here are some entertaining combining facts points on Q3 order effects when it comes to mobility. instant orders grew 19% year-over-12 months, and again, here's from an order standpoint. SP Wi-Fi is off to a strong start and achieving some early franchise wins, with orders becoming 127% yr-over-12 months. And the ASR 5000, which is our mobile packet core, grew orders smartly over a hundred% year-over-yr.

    As I give some thought to these effects, my conversations with our customers and companions and the effects of our peers, i'm more assured than ever in our cost proposition out there. With the work we have accomplished over the final yr, we're more desirable capable of plan for, adjust and execute in any market environment we come upon. in view that state of our markets that now we have covered during this convention call, as you could are expecting, we're going to remain conservative with our enterprise models and conservative with our information.

    With that, i could turn it over to Frank to stroll us via our q4 FY '12 guidance. Frank?

    Frank A. Calderoni

    thank you, John. i need to remind you again that our feedback consist of forward-searching statements, and you should evaluation our recent SEC filings that determine essential risk components and understand that exact results might materially fluctuate from those contained within the ahead-searching statements. This tips is according to latest pipeline and our view of the enterprise tendencies based upon the assistance we now have accessible nowadays and actual effects may be above or beneath our advice.

    The tips we're presenting is on a non-GAAP basis with reconciliations to GAAP. contemplating the enterprise climate that John already outlined for this fall FY '12, we expect income growth to be in the latitude of two% to 5% on a 12 months-over-year foundation. This earnings assistance is aligned with the product order growth tendencies we noticed in Q3, and the comments from our purchasers on conservative IT spend, as well because the macroeconomic climate in particular in Europe.

    As we've stated in the past, forecasting gross margin has always been challenging as a result of a considerable number of factors akin to quantity, product mix, can charge savings and competitive pricing pressures. For the fourth quarter, we assume non-GAAP gross margin to be within the range of sixty one% to 62%.

    Our non-GAAP operating margin in this autumn is expected to be in the range of 26.5% to 27.5%, up approximately 1 to 2 features over q4 FY '11, continuing our delivery of ecocnomic growth. Our non-GAAP tax provision cost is anticipated to be about 22% within the fourth quarter.

    Our q4 FY '12 non-GAAP profits per share is anticipated to be in the latitude of $0.forty four to $0.46 per share, up about 10% to fifteen% year-over-12 months. Our information fashions earnings starting to be sooner than income in step with our three-12 months monetary model.

    We assume our GAAP income in this fall might be $0.07 to $0.eleven per share lessen than non-GAAP EPS. This latitude includes our general alterations, as well as an have an impact on of up to $0.02 on account of our predicted restructuring charges.

    Cisco will not comment on its financial guidance during the quarter unless it is done through an explicit public disclosure." data-reactid="108">apart from these quantified gadgets referred to above, there aren't any other colossal ameliorations between GAAP and our non-GAAP advice. This information assumes no extra acquisitions, asset impairments, restructurings and tax or different routine which may also or may additionally now not be significant. As a reminder, Cisco will not comment on its monetary assistance right through the quarter unless it's performed through an express public disclosure.

    involving our July 2011 bulletins on restructuring, we now have incurred total pretax expenses of approximately $945 million to our GAAP fiscal effects thus far. We predict the full restructuring prices to be approximately $1 billion, with the closing prices to be incurred in the fourth quarter of FY '12.

    all over the fiscal 12 months, we now have demonstrated our commitments to our long-time period financial mannequin of starting to be gains quicker than revenue via areas akin to selective changes to our portfolio and a robust center of attention on operational execution and effectivity. We agree with our disciplined business management will enable us to navigate the near-time period environment, deliver operating leverage and proceed to deliver price to our buyers.

    John, returned to you.

    John T. Chambers

    thank you very a good deal, Frank. In abstract, our consequences and suggestions reflect the energy of our enterprise in a cautious environment. We continue to look market tendencies early, and we agree with we've the means to steer without delay, each technologically in addition to operationally.

    The portfolio we now have in location today is the strongest across-the-board that we now have had in our historical past, and our innovation engine is executing smartly. we're attracting right talent throughout many key areas of our business and are poised to pressure the transitions ahead.

    after I think about the many close-time period drivers of possibility, each from a growth and a profitability standpoint, i wished to spotlight one and that's cloud. i'm extremely blissful with the traction we've made in cloud. Cisco's CloudVerse framework integrates a unified information center with a cloud intelligent community to permit cloud functions and applications for our commercial enterprise and repair company purchasers.

    Cisco will lead the next generation of networking." data-reactid="116">today, over 70% of the main cloud providers are using Cisco's CloudVerse on their experience to the cloud, and our traction with our vastly scalable records facilities and net 2.0 consumers continue to be very robust. within the U.S., there are approximately 10 key MSDCs and web 2.0 shoppers, and 9 of the ten have invested in our Nexus platform to run their functions and functions. once I feel about the lengthy-time period emerging opportunities around the software mobility and flexibility of the network, together with OpenFlow, SDN and a tons broader set of related alternatives, i'm very excited and confident Cisco will lead the subsequent technology of networking.

    Cisco well for this evolution. As an example, from a programmability perspective, we already have approximately 5,000 customers on the Nexus 1000V. Combined with our stated commitment to drive software revenue models, we have unmatched expertise in the evolution of the network, and we plan to continue to invest in the internal innovation, partnerships and acquisitions that we believe will drive our networking leadership for generations to come." data-reactid="117">while the affect of these trends will undoubtedly be a long time out, we now have already positioned Cisco well for this evolution. for instance, from a programmability perspective, we already have approximately 5,000 purchasers on the Nexus 1000V. combined with our mentioned dedication to force utility salary models, we have unmatched capabilities within the evolution of the community, and we plan to proceed to make investments within the interior innovation, partnerships and acquisitions that we agree with will drive our networking management for generations to come back.

    Cisco has emerged stronger and with more market share. A year ago, many of you had concerns about our competitive position, our gross margins and the state of our portfolio. A year later, our product portfolio has never been stronger, we refreshed our entire switching portfolio while increasing our profitability and pulled ahead of our competitors. These results speak for themselves, and our team should be proud of these accomplishments." data-reactid="118">through each market transition, Cisco has emerged better and with more market share. A year in the past, a lot of you had concerns about our competitive position, our gross margins and the state of our portfolio. A yr later, our product portfolio has certainly not been superior, we refreshed our total switching portfolio while increasing our profitability and pulled forward of our rivals. These results talk for themselves, and our group should still be proud of these accomplishments.

    Cisco Is Ready For Your Money ]" data-reactid="119">[ More from Seeking Alpha: Cisco Is Ready For Your Money ]

    Cisco and for the network at the heart of every major market transition and evolution. In the near and long term, we will continue to manage the company well, delivering the value you expect from Cisco." data-reactid="120">There are areas in the macroeconomic ambiance that we cannot manage, and they might also have an impact on Cisco's close-term business. We consider our imaginative and prescient, approach and linked investments continue to be focused on the correct market transitions and ensuing enterprise opportunities. I are looking to thank our shareholders, employees, clients and companions for his or her ongoing dedication. We continue to be extraordinarily excited concerning the opportunities for Cisco and for the network at the coronary heart of every main market transition and evolution. in the near and long term, we can continue to manipulate the enterprise well, providing the price you predict from Cisco.

    Now Mel, let's open it up for questions.

    Melissa Selcher

    thanks, John. we'll now open the floor to Q&A. We nonetheless request that sell-aspect analysts please ask only one query. Operator, please open the flooring to questions.

    question-and-answer Session


    Our first query comes from Tal Liani with bank of the united states.

    Tal Liani - BofA Merrill Lynch, analysis Division

    My question is concerning the ambiance. If I do the maths appropriate, you are guiding for product revenues to be down 3%, four% sequentially, making some assumptions on features. what is the chance that the environment is barely trending down because the portfolio is in such an excellent form right now? what's the possibility that we're simply going to have one more downturn like we had 2 to 3 years in the past?

    John T. Chambers

    Tal, it's a extremely reasonable query, most likely one that we've got looked at very, very an awful lot over the remaining a couple of months. after I consult with our customers, they don't see that happening in their ambiance, and that they traditionally, even the areas which have been going slow like service suppliers and also the monetary services business neighborhood, have observed their plans are to spend extra in the 2nd half of the yr. youngsters, Tal, within the very subsequent sentence they observed, we're waiting to look what happens in Europe and what happens with government policy. So there may be nothing that we see in this ambiance that shows both on our behalf. Our product portfolio, as you referred to, is probably the most competitive ever. And we believe as the new market share numbers come out, we will gain share in the majority of the market areas once they stated is in very respectable form. The carrier providers, I believe, we're in the strongest place, and i suppose you'll see us retain that. And practically across every product area, we are carrying on with to benefit share of intellect and usually market share. in the industrial marketplace, if their business is decent, they spend. So again, after we look at it, Rob, we saw respectable spending within the industrial industry particularly in the past the proper 2000 Fortune classification of debts. the general public sector was a little bit more suitable than we concept, but Tal, when it comes to your modeling, we view it as fairly flat as you go forward. There can be segments that may be up and segments that may be down. we'll probably focus on that in Q&As a bit bit later. The enterprise is one which had changed when it comes to consumer IT self belief, in terms of client IT self belief on spending versus the closing quarter, and that is the reason received a bit bit more challenging. once I seek advice from my friends within the industry, and make no mistake, i have been doing that, we are able to just about finish each different's sentences on what we're seeing around the globe from the enterprise customers. again, now not a view that things are turning down, but simply very regular development and an unclear and cautious wait-and-see classification of atmosphere from that viewpoint. So whereas we will all the time watch the numbers, Tal, and we do should you see a vogue occurring that it can be a demonstration of a much bigger situation, I think presently i could classify it as uncertainty and looking to see greater simple task on the international financial system and in Europe and secondly, greater sure bet in terms of government guidelines that can have fundamental impacts on their company. So it be a nice method of saying that we're now not bound. We certain do not like the style within the commercial enterprise IT spending, besides the fact that children we suppose in our product areas, we control our own fate in terms of share of market.


    Our subsequent query comes from Simona Jankowski with Goldman Sachs.

    Simona Jankowski - Goldman Sachs group Inc., research Division

    simply desired to observe-up on the provider issuer business the place, in particular, you stated the electricity in APJC, and that i feel you also cited these a few large multiyear tasks in that enviornment that are being achieved or have been achieved. Are those being replaced? And if no longer, should we expect a step down in revenues in that specific area?

    John T. Chambers

    smartly, I feel the appropriate approach to examine it, Simona, and thank you as a result of we knew there would be questions on income boom versus order boom. The right strategy to think about it's what's your order growth in terms of the momentum. And if you watch, there can be instances when there are giant shipments i.e. that took place this ultimate quarter that bumped Asia-Pacific, Japan and China up 24% which will no longer turn up the subsequent quarter. So i'd watch the reserving order exquisite numbers. Now to your question, in Asia-Pacific, Japan and China, we are doing very smartly in the carrier issuer market. in case you examine key debts in Japan like NTT, SoftBank et cetera, you are seeing us benefit each share of pockets and dramatic share of opportunities to monetize their networks. We talked past about the Korean telecom, me and Rob, which the crew simply did a fantastic job, going from the records middle all of the approach up to smart functions on the end. i was just in China and India in about something a month in the past, and at the moment once I talked to the chinese language service suppliers, including content providers and even the wise grid environments, so the grid network, they understood the cost of an architectural play very, very neatly in China. after which once I went to India, it changed into a shocker, and Gary, you know which account i am talking about during this. For the primary time, one of the most predominant telcos there who has traditionally had all and sundry conceivable of their community and seen their job as being the techniques integrator is now severely looking at us. We're truly an end-to-conclusion category of architecture. So Simona, carrier issuer very effective in Asia-Pacific, Japan and China. we'd count on continuing to get our share plus some in that atmosphere. We noticed carrier offered in the U.S. very strong with a 9% boost, and Rob, I think we're doing superior within the MSOs as well as in the ordinary telco neighborhood. Latin the usa became a bit bit weaker than we might want to see and that has to do with the probably the most European provider suppliers enterprise in Latin the united states on it. Europe, we have been good in our what we call our select right 5 - 6 carrier suppliers with good -- I think the increase, Rob, changed into practically 20% yr-over-yr if I be aware correct, however we had been no longer near pretty much as good in the individual nation provider providers. they're starting to see the impact of the economic and different challenges. So Simona, or not it's a pleasant way of saying trending when it comes to what's accessible looks first rate, and we accept as true with we can continue to get our share plus some in provider providers barring an incredible shock.


    Our next question comes from Brian Modoff with the Deutsche financial institution.

    Brian T. Modoff - Deutsche financial institution AG, research Division

    John, so sort of searching a little longer term as you form of look on the network intelligence piece of your enterprise and searching at the instant as a particular enviornment, you saw Starent -- your Starent acquisition doing smartly for you. Are there other facets that you see in these evolving networks that you just believe you need to give a boost to for your portfolio to continue to peer first rate boom within the carrier issuer facet of the enterprise?

    John T. Chambers

    bound. We're working with the carrier providers on a bunch of fronts, and that i think, Brian, you set me up with the touch upon the wireless. We commented during this session, I suppose, that we're at the $1 billion run price in terms of the key instant accessories collectively within the provider issuer market, in addition to a $1 billion run rate in the cloud. So in terms of the areas, in case you appear on the key traits occurring, cloud is the first one, and we're doing extraordinarily well no longer just in usual virtualization environments however we're now, Rob, beginning to get them to run their Oracle ambiance or their SAP ambiance, their core programs on this means. So after mobility in terms of service providers, I consider cloud is going to go very smartly. What they may be after is never simply effectivity in the statistics middle. They see this as ability to deliver intelligent capabilities capabilities they could charge for i.e. leisure, i.e. small business purposes, et cetera, and to circulation there. they are very drawn to programmability and here is the place you begin to peer us considering how do you combine no longer simply utility but ASICs, OpenFlow, SDN and the full architectural play. And after we shared that strategy with our provider providers, together with the content carrier suppliers, their eyes easy up as they see that we get it and they're going to barring a shock transition easily through that. The final enviornment that I study when it comes to real boom is video. Video, I feel, is at the very entrance end stage, and whereas i really like the CRS-3 numbers that now we have shared with you, having reached the $1 billion run price and they will be up in the market in 1.5 years, video is a hog on the community. and you want intelligence below it i.e. a medianet potential to make the video basically usable. after which as it goes into the cloud, which all of it is going to, which over time will support our margins as we flow out of a group-proper container approach with utility to a cloud strategy and that allows you to take a long time to evolve, the Videoscape type of activity must be there to control that segment of the video. So those would be the 3 areas that got here to intellect. And after I discuss provider issuer wireless, i'm speakme about each the wireless edge, SP Wi-Fi and what we're doing in instant LANs in the carrier provider atmosphere.


    Our subsequent query comes from Simon Leopold with Raymond James.

    Simon M. Leopold - Raymond James & pals, Inc., analysis Division

    sure, i wanted to the touch on the business competitive ambiance. It appears as if you've had lots of success countering HP and Juniper. nevertheless it feels like Huawei is making a push now greater in opposition t commercial enterprise given the slowing increase they're experiencing from provider suppliers. can you discuss your plans of the way you wish to shelter against that attack?

    John T. Chambers

    Cisco versus a player like Huawei in the enterprise. Let me start with the numbers. Every year that I've been here, there's either been a key large competitor, a Dell, an IBM, a Microsoft, at times even an Intel that was going to come at us and unseat us in an area, and there are always product transitions every year that people get concerned about. And for 20 years, we've come out of it stronger and in every one of those key areas. So that's not a guarantee of how it will turn out in the future, but it does mean we react very, very effectively. In terms of our enterprise customers, there's no one that has higher loyalty to Cisco, and you see in the surveys and the balance. We got to earn that everyday, and as we move into an architectural sale that helps them accomplish their business goals, that gets even stronger in terms of the approach. But if I could, Rob, and again I want to point out, watch Huawei's numbers. They were 11% up year-over-year, and they're getting into everything from tablets to servers to data centers to traditional networking, and we'll see if they get themselves spread too thin. But given the area that they're in with a lot of support from their government, i.e. $40 billion in loans, that was not a particularly exciting number at least from my perspective as I drag through the transcripts and had a little bit of trouble understanding their transitions from year to year to get the numbers, but that's a separate topic. Rob, in terms of your view and your 2-minute elevator pitch on how we're going to beat Huawei in the enterprise just as we've beaten other players when they come at us on our traditional business." data-reactid="148">bound. Let me start with some generalities and then Rob, i go to ask you and get organized for it together with your 2-minute elevator pitch when it comes to why Cisco versus a player like Huawei in the business. Let me delivery with the numbers. every year that i've been right here, there may be either been a key massive competitor, a Dell, an IBM, a Microsoft, at times even an Intel that became going to come at us and america us in a neighborhood, and there are always product transitions every year that people get worried about. And for 20 years, we've got come out of it better and in every one of these key areas. So that is now not a guarantee of how it will turn out in the future, nevertheless it does mean we react very, very quite simply. when it comes to our business consumers, there is no person that has higher loyalty to Cisco, and you see within the surveys and the stability. We received to earn that general, and as we flow into an architectural sale that helps them accomplish their enterprise goals, that gets even enhanced when it comes to the method. but when I might, Rob, and again I are looking to aspect out, watch Huawei's numbers. They had been eleven% up 12 months-over-12 months, and they're entering into every little thing from tablets to servers to data centers to average networking, and we are going to see in the event that they get themselves unfold too thin. however given the area that they are in with a lot of guide from their executive, i.e. $40 billion in loans, that became now not a very interesting number as a minimum from my standpoint as I drag throughout the transcripts and had a little little bit of concern figuring out their transitions from year to yr to get the numbers, however that is a separate subject matter. Rob, when it comes to your view and your 2-minute elevator pitch on how we'll beat Huawei in the commercial enterprise just as we have now crushed other gamers when they arrive at us on our normal company.

    Robert W. Lloyd

    Cisco especially in the SP. One of the things that is at the heart of our customers is looking at innovation. There's so much happening, and we clearly know that our customers view innovation from Cisco and they don't see the same from Huawei. And we would clearly say that imitation isn't innovation, and I think our customers recognize that. Finally, today's cloud-centric world, integrity is everything. The privacy of information, how data is protected, is forefront in our customers' mind in a cloud-centric world. That's not the forte of Huawei. And as they examine partnerships to enter markets around the world, this integrity gap is clearly recognized by our partners, and I think they're being -- that's being reflected in their lack of success so far in penetrating the value channels that Cisco takes to market." data-reactid="150">John, i'd doubtless convey up 3 aspects, the first is loads of customers that have now had a few years journey with Huawei are discovering that low-priced initially is never so low cost in spite of everything. Their software of inserting on-web page resources for building is leading to lock in, and many clients who at the moment are seeing increases of their pricing are returning to Cisco notably in the SP. probably the most issues it's at the heart of our consumers is asking at innovation. there's so a great deal occurring, and we evidently be aware of that our valued clientele view innovation from Cisco and they do not see the equal from Huawei. and we might certainly say that imitation is never innovation, and i think our consumers respect that. eventually, latest cloud-centric world, integrity is every little thing. The privateness of information, how information is covered, is forefront in our clients' intellect in a cloud-centric world. it is no longer the distinctiveness of Huawei. And as they check partnerships to enter markets world wide, this integrity gap is evidently identified by way of our companions, and i think they're being -- that is being reflected of their lack of success up to now in penetrating the price channels that Cisco takes to market.

    John T. Chambers

    If I were to draw a parallel, Simon, and Mel, you are going to kick me in a minute, i wouldn't draw the parallel to the manner that HP got here at us essentially on fee even in the enterprise where they certainly had a extremely supposition. It took us, Rob, about -- I feel about in 6 to three hundred and sixty five days to truly get our act together and how to compete towards them and how to assert just good ample, 30% off is never just first rate enough and also you all have seen the win prices that we've got had given that then the place HP switching is back to where it turned into once they purchased 3Com. I mean here is a massive market share insurance policy. So if we execute appropriate, and that i expect us to, I suppose you might be going to find we're very difficult versus Huawei. not just in coming into our home turf, but watch how we did in China versus what Huawei did in China. Their growth in China became mid-single digits. Watch where we was once on the protecting, all the time in terms of cost on carrier provider markets in Africa and Asia and emerging international locations. Now you see us occurring the offensive. So I suppose you are going to see us very confident in how to compete towards them. they may be an excellent complicated competitor. They received a lot of weak spot and we will make them very undeniable to our valued clientele.


    Our next question comes from Mark Sue with RBC Capital Markets.

    Mark Sue - RBC Capital Markets, LLC, analysis Division

    Cisco can do to break free from this gravitational pull of the macro? And along the way, are there tangible proof points which may indicate that the second half of the year might be better than the first half? And I asked since the July quarter is seasonally your strongest quarter, but it's now the weakest in terms of your outlook, which implies that the October quarter, which is your weakest seasonally, might actually be worse." data-reactid="156">John, there's the proposal that your enterprise is fitting increasingly correlated to the world macro. So are there things Cisco can do to break away from this gravitational pull of the macro? And alongside the manner, are there tangible proof points which may additionally point out that the 2d half of the year might possibly be more suitable than the first half? and that i asked considering the July quarter is seasonally your strongest quarter, nevertheless it's now the weakest when it comes to your outlook, which suggests that the October quarter, which is your weakest seasonally, may really be worse.

    John T. Chambers

    Cisco sees these trends so much earlier than our peers in the market is we're pretty pervasive. We're in every industry, every country, everything except the consumer in large volumes. And so we can see a hiccup in state and local spending in the U.S. perhaps 2 to 4 quarters before other people, our peers, get it on their radar screen. Now on the one hand, that is so good that 80% of your business is new every 120 days. On the other hand, many of our peers, and I have some very good friends in the software industry, would say, "John, we're a lagging indicator because our businesses is only 10% to 20% really new every quarter. And so by the time we see it, you've experienced and you might be in it for 2 to 4 quarters." I would like to be a little bit more that way. And what I'm after and what we're attempting to do, and Gary has helped us lead the charge, is moving more and more to a certain percentage of our business beyond servers, areas like software, WebEx, being chargeable by the month and looking at new business models that will allow us to get a more predictable stream of revenue base underneath of it. So it's not amplified 5 or 8 to 1 versus what our peers see in the market. So that would be question one in terms of macro. Question two in terms of macro, we want to move into areas that are not as subject to the ups and downs in this. Part of it is that business model change that we talked about that would be a gradual change over the next 5 to 6 years. Part of it is moving to areas like entertainment, video, if you will, from the home and capabilities where you actually see that pretty macro resistant in terms of customer spend and directions on it. And then I think we need to really evaluate how we perhaps in government or other areas, whether it's through our partners or directly, begin to provide things by the drink on a regular basis. And Gary, we're looking at that beyond just Cisco capital traditional approach. In terms of the second half of the year tangible proof, just being very open, this is really hard to read. Normally as you know, Mark, I have a real strong opinion on issues. It's hard for me to read, and when you talk to people who say, "We're going to pick up our spending the second half of the year, we feel very good about how we're positioned," and they say that i.e. the retail banking investment group i.e. some of the service providers, et cetera, then in the very next breath they say but it depends on what happens on a global and macro scale. So the tangible proof is the customer saying it, but you need to know that if the situation in Europe begins to get really hard or the global environment gets softer or some of these governments, whether it's in India or Argentina or the U.S. or in the 5 or 6 major leading countries in Europe, don't resolve some of the issues, then I think people are in this uncertain environment and when they're uncertain, unfortunately, you don't spend. So I don't think that answer surprises you, although I understand why you're asking it. You had a second point and I didn't write very plainly what it was. Was there a second part of the question that I missed?" data-reactid="158">ok. Let me birth with the macro ambiance. one of the crucial things that -- probably the most basic motives Cisco sees these tendencies so plenty earlier than our peers in the market is we're fairly pervasive. We're in every industry, each country, every little thing apart from the buyer in gigantic volumes. And which will see a hiccup in state and local spending in the U.S. most likely 2 to 4 quarters before different people, our friends, get it on their radar monitor. Now on the one hand, that is so decent that eighty% of your enterprise is new each one hundred twenty days. however, a lot of our friends, and that i have some very first rate friends within the utility business, would say, "John, we're a lagging indicator as a result of our groups is simply 10% to twenty% basically new every quarter. And so by the point we see it, you've gotten experienced and also you may be in it for 2 to 4 quarters." i need to be a little bit greater that means. And what i am after and what we're attempting to do, and Gary has helped us lead the can charge, is moving further and further to a certain percent of our enterprise beyond servers, areas like application, WebEx, being chargeable by the month and looking at new enterprise models that will allow us to get a extra predictable circulate of profits base below of it. So it be now not amplified 5 or 8 to 1 versus what our peers see in the market. so that could be question one when it comes to macro. query two in terms of macro, we are looking to stream into areas that aren't as field to the USAand downs in this. part of it's that enterprise mannequin trade that we talked about that would be a gradual exchange over the subsequent 5 to 6 years. part of it's moving to areas like entertainment, video, if you will, from the domestic and capabilities where you truly see that pretty macro resistant in terms of client spend and directions on it. after which I think we need to in reality consider how we perhaps in govt or different areas, no matter if it's via our companions or directly, start to provide things through the drink on an everyday basis. And Gary, we're taking a look at that past just Cisco capital typical strategy. in terms of the second half of the yr tangible proof, simply being very open, here's in reality challenging to study. constantly as you comprehend, Mark, I have a real effective opinion on issues. or not it's difficult for me to study, and if you confer with individuals who say, "we'll opt for up our spending the 2nd half of the yr, we suppose very respectable about how we're placed," and they say that i.e. the retail banking investment group i.e. probably the most carrier providers, et cetera, then in the very subsequent breath they say nonetheless it depends upon what happens on a global and macro scale. So the tangible proof is the consumer asserting it, but you need to know that if the circumstance in Europe begins to get truly tough or the world environment receives softer or some of those governments, whether it be in India or Argentina or the U.S. or within the 5 - 6 predominant main international locations in Europe, do not get to the bottom of one of the crucial concerns, then I feel americans are during this unclear environment and when they may be uncertain, unfortunately, you don't spend. So I don't feel that answer surprises you, despite the fact I take note why you're asking it. You had a 2nd aspect and that i didn't write very it seems that what it turned into. was there a 2nd part of the query that I neglected?

    Mark Sue - RBC Capital Markets, LLC, analysis Division

    sure, John. I consider the notion that if seasonality remains magnified, should still we believe the slowness that we're seeing at this time is brief-time period, or can this truly be prolonged?

    John T. Chambers

    it be too early to inform. We obviously are located to head whichever means it goes. i'm a having a bet man and if I had been making a bet, i'd say you're going to see precisely what our purchasers stated which is only very sluggish, painful progress, wherein case we'll do very neatly. If it quickens, we're located smartly to participate in that, and if it gets complicated, we will take market share in that. Our product portfolio is within the surest form. we have got new items across the board which caused us initially margin problems, and you probably have 2 to 3x of price performance salary era complications, now work to our advantage. And Gary, the work that you just and crew have accomplished on accelerating Cisco's transformation, we're in a position for the next area whichever method it goes. but when I had been betting, i might say it's going to be sluggish and gradual, some bumps along the manner and uncertainty alongside the style. but when we are able to at least get some of those areas greater predictable, then I suppose you'll see people spend at a different degree. it would be irresponsible for us to say that for this next quarter, but i would no longer extrapolate out the first quarter next 12 months and 2nd quarter next yr. Barring any shock, we should be very smartly on our market share numbers. So it's extra what these segments develop at after which our means to get into new areas like loud, like mobility, like video, that we candidly haven't had as big a share in as before. So i'm hoping that starts off to get a part of the question out, Mark, and that i take into account precisely why you might be asking.


    Our next question comes from Rod corridor with JPMorgan.

    Rod B. corridor - JP Morgan Chase & Co, research Division

    I simply wanted to ask, I guess or not it's a tricky one, however i may ask about cost. You guys are -- this revenue information number for this fall is surely fairly susceptible. I had to roll the mannequin of means again to I think 2002, 2003 to discover flat revenues in this fall. And so i'm just wondering, you guys are nonetheless including employees at an inexpensive clip. i ponder in case you could talk us in the course of the flexibility you might have obtained. Do you take action now and forestall incremental hiring given the vulnerable salary development? after which at what factor -- what form of earnings degree do you think like you deserve to cut back cost further? i do know you simply decreased a lot of charge. So does it must get -- how a good deal worse does it should get earlier than you beginning thinking about that once again?

    John T. Chambers

    Frank, we pointed out this a fair amount between you, Gary, myself and Rob. Share a little bit of your innovations on how we ended up there and then, as at all times, i may reserve the right to start in at the end and add a bit bit of colour.

    Frank A. Calderoni

    yes, Rod. I suggest clearly, it goes back to what we have now spoke of during the call these days and additionally what we've been speaking with the funding group lower back on account that September of closing year, and that has to do with our lengthy-range monetary model. and i analyze it from an working margin viewpoint. typical, it's starting to be profits faster than profits. So in case you seem to be on the final quarter, I suggest, we had operating margin of 28.6%, which was slightly better from the place we have been in Q2, and our prices were 34.5% of revenue. And if you examine how we now have form of closed the first 3 quarters of this fiscal year, if you sort of regarded at the complete Q3 yr-to-date, we had earnings boom of about a bit over 7%. We had internet income growth about 9.5%. We had EPS boom about 14%. And so we have now spent the ultimate yr in reality working on, internally across the business, a persisted focus on gross margin, and it's good to look some of the consequences that we've got had the final couple of quarters and focusing on cost engineering and focusing on points within our items to aid increase the profitability, to seem at the ramp for when we introduce new items. On the price side, we have now endured to examine our portfolio, making some challenging calls and rebalancing where it changed into imperative. we now have in reality had a tremendous quantity of attention on efficiency and productiveness. That isn't something that we are just, even after we had this conversation last quarter about achieving the goal of taking at $1 billion. I imply here's whatever that we think is a part of what we should do over a longer duration of time. So we will proceed that. Of direction, in case you start taking a look at accurate line, we need to be sure exchange-offs. Of direction, we have to examine it from a brief-term and an extended-term point of view. we have experience this past yr to sort of use that adventure because the heritage to proceed this effort going forward, and we'll perpetually do the appropriate component that make sure that we're returning the right cost to shareholders and balancing that profitability with the income increase.

    John T. Chambers

    yes, i might just add a couple of strategies to it, Rod, and that i understand why you're asking, once again very reasonable. you are going to see us now not underreact or overreact to this. I believe if you watch us over the years under instances of pressure, we get relatively calm and pretty concentrated on a way to tackle it. Secondly, i might completely study into these feedback that we do not see this being an financial vogue is a given at all. We're going to move forward and stream through this, this quarter and watch to look, identical to our consumers are staring at, to look what occurs as a result of we do feel we position ourselves very well. And candidly, from a productivity and leverage element, I suppose we've. The third element, and that i overlook if or not it's Simon or Mark asked this query, it kind of ties to this, as we gave our tips in this fall, we build backlog and for Q1 and we'd all be shocked and dissatisfied if we failed to proceed to construct a gorgeous reasonable backlog stepping into from this autumn to Q1 and that is developed into our numbers when it comes to options. Gary, you may want to add whatever here?

    Gary B. Moore

    yes, just -- I mean Frank hit it very, very neatly. I mean we are basically neatly located from a visibility element of view, neatly positioned from a portfolio aspect of view. Getting returned simply to the heads, I suggest it wasn't -- I mean you might look at it as a major number of heads. a huge majority of these had been break up between capabilities, which are income-supplying people, bear in mind the growth that we've got had in revenue and functions for the total 12 months. and then part of our customary plan became to do strategic hiring returned into engineering in the core areas where we need to continue to make investments. So we deliberately made shifts in the team of workers [ph] there in areas that we're going to deemphasize, and where we could not redeploy, rehires in these areas. So it's why you're due to the fact that.

    John T. Chambers

    And to your modeling, I imply, what Gary and team have performed in functions we comprehend no one else has carried out when it comes to both the gross margins and the salary increase fees. And doing it with a extremely companion-centric model, Rob, has been world category, and we're naturally modeling features boom, which is about 20% of our enterprise in a low double-digit classification of numbers, and we saw that both in our order costs when it comes to the one-yr contracts, Gary, as well as our income fees. so as you think about your fashions, that may still even be built into it.


    Our next question comes from Nikos Theodosopoulos with UBS.

    Nikos Theodosopoulos - united statesfunding financial institution, analysis Division

    John, I failed to hear you focus on linearity throughout the quarter. Did the warning within the business spending intensify as the quarter advanced, or become it a continuing subject during the quarter? and i guess as part of that, if enterprise carrier clients are telling you they'll spend more in the 2nd half but they are looking ahead to clarity in Europe and U.S. executive coverage, these aren't likely to be resolved in the subsequent quarter or 2. I imply, those probably don't get resolved til late 12 months, early next yr. So having a tough time knowing why they're pointing to these 2 things and suggesting they may now not spend effective within the second half when these certainly aren't going to be resolved every time quickly.

    John T. Chambers

    So series of respectable questions. Let me beginning with the latter. Our consumers as an entire within the commercial enterprise market are within the most useful form I've ever viewed them all through any type of economic even hiccup. Their case is very, very first rate. Even the financial associations backyard of Europe are actually concentrated on getting the profitability again in line, getting their occasion positioned. So clearly, they may be retaining their powder dry as opposed to saying we have an issue with any powder that we can take motion on. when it comes to the linearity all over the quarter, the linearity become unfortunately very a great deal how we gave the counsel. It turned into fairly similar month 1, month 2, month three. on every occasion you've got a global-classification revenue community, which Rob, I feel you will have developed and done a superb job on, they always shut the final week hard. in order that at all times will happen, and that would've troubled me a fine deal if we hadn't had a extremely powerful final week shut. however it really is no longer indicative that issues are quintessential altering, however is indicative that it became not worsening at that aspect in time. when it comes to the warning, i am simply announcing what the purchasers say to us, and we try to slot in that mannequin presently. If i was having a bet, i would bet the 2nd half of the year may be stronger for us and our next quarter that we're signaling. however we're going to attend and notice, and we simply are going to spend per, I feel it was Rod's query, very carefully as we go into this and to position ourselves to win either way. we now have we suppose our opponents, including the Asian competitors, in a really inclined spot where we have made the adjustments now that they've now not made and we've got moved into the market increase areas which are in reality instrumental to our purchasers in terms of their success when our friends have not. lots of them are still proposing individual items and are even now not in a position or now not relied on to be able to provide this at a a lot higher level. The exceptional way of announcing whatever thing is there, I feel we have a extremely high probability of doing very neatly with no person actually knows. I do wish to reemphasize though. here is a controversy after I consult with our shoppers and our friends, and our peers exceptionally, they can finish my sentences even though they wouldn't have as a great deal, dependent upon the quarter, new agencies we do. So here is one that I consider is an business phenomena, and you saw that in Gartner losing their IT expenditure expectation down. I think it changed into 2.2%, Mel, et cetera. having said that, constantly by the point the majority sees it, it might possibly be already heading an additional method and we will see if that manner is extra up, and i'd like to be apologizing after the subsequent quarter that we have been a little bit too conservative. however it's our philosophy, and that we believe is the right approach to run the enterprise.

    Melissa Selcher

    feel about 3.5%.


    And your next question comes from Ehud Gelblum with Morgan Stanley.

    Ehud Gelblum - Morgan Stanley, research Division

    firstly on gross margin, you have now overwhelmed gross margin assistance a number of times, a number of quarters in a row. We see at Asia-Pac, Japan, China gross margins again up once again after being hit closing quarter of the China offers and that changed into off of a strong income in that area. So i'm guessing China become a no longer especially effective for you this quarter. so that you're actually getting a raise out of your APJC for gross margin. Your entire gross margin is set 63%. Frank, why do you retain guiding into the sixty one% to 62%? What is that this undergo case that you simply keep type of I wager in the lower back of your mind for those who guide in order that it appears as even though gross margin continues going again down again yet you maintain beating each time. i used to be concerned often about APJC. Now that is not a agonize anymore. i'm simply curious as to what you are worried about. after which simply clarification, I calculated that u.s.a.became down quarter-over-quarter in keeping with a 57% 12 months-over-12 months that you gave, need to make certain this is right. and then John, when you stated that 2d half of the 12 months is more suitable, October is definitely a fiscal Q1, always it's weaker. should still we now be something it really is not seasonal for you guys as we start modeling?

    John T. Chambers

    okay. we are going to go within the quarter in the sequence that you simply raised it. Frank, on the gross margins.

    Frank A. Calderoni

    Ehud, in case you -- Q3 of direction, simply to kind of go through, 63.1% complete margin for the quarter. That became up 7/10 quarter-on-quarter and specifically on the product side, sixty two.0%, up 1.1% quarter-on-quarter. As i discussed prior, lots of advantageous impacts on margin primarily because of throughout enterprise predominant initiatives that now we have been riding seeing that the starting of the fiscal yr on many issues I highlighted in cost engineering and so forth. here's an strategy that goes now not handiest from a engineering perspective and the company contraptions that assist with engineering, but all the manner up to earnings organization. We even have compensation tied to improvement in margin. So all that's goodness, and that i suppose consequently, we've got had some growth during the year above all in switching. John highlighted a couple of key things in case you look on the switching margins. they are back to the place they where about 2 years ago. The Nexus 7 basically stronger 9 points considering the fact that Q1 '11 when we have been having all these discussions round switching margins. Now it be inside 6 facets of the Cat 6500 that John mentioned, and that's the place it turned into 1.5 years ago, or not it's up 17 features. So a lot of goodness there. The different aspect that I highlighted so far as Q3 performance mainly is we did have a advantage within the quarter from favorable product mix and value rate reductions, and i emphasize the product combine. And that does exchange from quarter-to-quarter as we have seen right through FY '12, if you seem to be on the margins from Q1 to Q2 after which Q2 to Q3. So taking a look at that mix of product and taking that into consideration with the lessen profits base in this autumn from a increase viewpoint is why the range is in that sixty one% to sixty two%. So we'll continue to focal point on the various things that we've, as I said, earlier than ongoing not only q4 but as we go into subsequent year. And as we see extra possibility, that helps us offset one of the combine dynamics each geographic as well as from a product standpoint.

    John T. Chambers

    i am going to move in reverse order and then, Gary, after I do this, simply to provide you with heads up, i go to ask you to talk about one of the most things we're doing to continue the center of attention on gross margin improvements, a bit bit deeper than Frank went since you've obtained us, the entire business, concentrated on that now in a really advantageous manner. but let me go to the numbers, and i desired to investigate earlier than I respond to it, Ehud. the mathematics could be no, from -- no, actually your math is right looking at Q2 to Q3. and that i believe it is greater a function of a few components. Most crucial, I consider Romley played an issue with us and i believe all of our friends noticed it. To the indirect a part of your question, we might are expecting, and that i'd be very dissatisfied if u.s.earnings, Rob, have been now not up dramatically versus Q3 and q4. in an effort to your oblique a part of your query, we would be greatly surprised and not have Rob say sorry, with me shut at the back of him, if we're on this fall and we don't seem to be searching smartly above what the Q3 numbers basically had been. To the 2d part of Asia-Pacific, Japan and China, it be first rate news and a little bit of a challenge. We should beginning constructing items which are designed for these markets at that fee points, and also you do not need to have all the capabilities. today, what we do is probably inhibit the capabilities but nonetheless supply the fundamental cost constitution in our bids over there and you see that in terms of its affect. So I think you'll see periods of time where there should be margin drive from Asia-Pacific, Japan and China after we get very gigantic router deals within the emerging markets. besides the fact that children, we're starting to do a beautiful good job, Gary, in engineering, starting to improve set-exact boxes in Asia to are available in at $25 and $forty seven the set-desirable box with much superior margins that we get today. And candidly, if we execute smartly, they should still effect in a lot more salary for us in countries like India at a good deal more suitable margins as we circulation ahead on it. We also have carried out a undertaking like Sunbird [ph], which is a real high-quality controller capability out of China that has the knowledge to go into an incredible number of -- i'm speakme a whole lot of hundreds of alternatives in the training device and then expand past. So we're beginning to do a far better job of designing in rising product -- into rising countries with products that may meet their standard charge per container classification of strategy and with out all the capabilities, now not dumbing down our latest product down. Gary, possibly simply a couple of comments when it comes to ongoing center of attention on margins and what you've got us all focused on including the sales drive.

    Gary B. Moore

    yes. Thanks, John. So on the maximum stage, every person within the company is concentrated on price engineering and driving effectivity, effectivity throughout the total portfolio. And that potential effectivity no longer just in the product portfolio however across our individuals, throughout every thing that we're doing to include our true estate, our contingent labor forces and we've executed tremendous things there already to drive value. in addition although to the things that we've noted earlier than, like cost engineering, our supply chain procurement community is absolutely world-class, and they're riding large price. As I analyze what occurs from quarter-to-quarter as we look at the pricing there and the price that will carry long run, it just form of compounds on itself. So i'm very at ease that we can continue to monitor the accurate line in a way that we do, manipulate the base line and the gross margins to dwell extremely competitive out there and return to the shareholders the value that they are expecting. So i am very comfortable with these things, however there's many, many courses across the whole enterprise: actual property, product portfolio, workforce, et cetera that we're driving.


    Our next question comes from Matt Robison with Wunderlich Securities.

    Matthew S. Robison - Wunderlich Securities Inc., research Division

    sort of on the identical topic, the combine implied and the suggestions for margin. Your orders in China were down, however sounds like the type of combine you are speaking about changed into, given the items for the correct rate facets, continues to be the kind of element that you just're -- where you are seeing greater electricity in that a part of the area. And just variety of wondering if possibly are we pondering that since you nonetheless have fairly a bit of of backlog from previous periods it is inflicting you to have one other strong APJ quarter -- APJC quarter, or is there some thing else that we should still be considering in the combine?

    John T. Chambers

    i might consider that the guidance we're supplying you with is what we in fact agree with on that. mix will all the time be a massive opting for factor. APJC, and the truth if I we're betting on a theater to have the most suitable boom, it is naturally the one the place we'd be, barring a surprise in China. And the team obtainable after which it starts executing extremely well in China. Japan is not going to cowl off the ball. Going through China simply a little bit over a month in the past, I did not see warning alerts of essential considerations in the financial system, and we did have a couple of big orders roll over. although, you will see when big orders come, pressure on margins with those category of opportunities. The designing with the margins, the appropriate price aspects need to be from scratch up. You can't take an latest product and hole it out. And now we have tried that, and it simply would not work. So we can design from the bottom up when it comes to made in China for China and past, made in India for India and beyond, made in Brazil for Brazil and past. but that takes a multiyear effort, and i do not need to misinform any one. We're just getting all started. Early successes have been fairly first rate, Gary, in what we have achieved there and, Rob, pretty advantageous from the income facet. however i'd now not search for them to help us out within the subsequent 1 to 2 quarters when it comes to the path. So tips is peculiarly a mix problem, Frank, is that reasonable, and a bit bit on the geography side of the apartment.


    Our next question comes from Jayson Noland with Robert Baird.

    Jayson Noland - Robert W. Baird & Co. included, analysis Division

    Cisco Capital. We're hearing more about favorable financing terms for customers, and John, you mentioned by the drink. Could you talk about that approach and the impact it may have to the balance sheet?" data-reactid="206">i wished to ask about Cisco Capital. We're listening to extra about favorable financing terms for valued clientele, and John, you mentioned via the drink. may you focus on that approach and the impact it will probably must the steadiness sheet?

    Melissa Selcher

    Thanks, Jason. this is going to be our final query, John.

    John T. Chambers

    ok. If here's the ultimate, we might a number of of us jump in. Gary, why don't you birth us off?

    Gary B. Moore

    Cisco Capital, I think, provides a lot of opportunity for us that we didn't leverage as well as we could have before, just to be open about that. It provides not only the innovative solutions to our customers but also to our channel solutions, and it's going to allow Rob and the sales force have a lot more incremental sales based on the way we're going to focus. I think the fostering of those long-term relationships and the installed base also gives us a strong competitive differentiator, and we're really starting to leverage our balance sheet with them. I think we're really pleased with the growth that they've had. Kristine Snow and her team have done just an outstanding job of positioning people in the regions so that we could move quickly on decisions and where we needed to make moves, be there as a partner to the sales force. So you will see us do more there, but on the other hand, we will be making sound economic decisions and risk. So Frank manages the risk here extremely well, but we've given Kris the charter to really step it up, and she's performing extremely well with her team." data-reactid="212">sure, so Cisco Capital, I feel, provides loads of chance for us that we did not leverage in addition to we may have before, simply to be open about that. It gives not most effective the imaginative options to our shoppers however also to our channel solutions, and it be going to enable Rob and the revenue force have a lot more incremental revenue in line with the style we'll center of attention. I suppose the fostering of these long-term relationships and the put in base also offers us a strong aggressive differentiator, and we're in fact beginning to leverage our steadiness sheet with them. I think we're in reality happy with the increase that they've had. Kristine Snow and her team have achieved just an excellent job of positioning people in the regions in order that we may stream directly on selections and where we necessary to make strikes, be there as a partner to the sales drive. so that you will see us do greater there, however however, we should be making sound economic choices and risk. So Frank manages the chance here extraordinarily smartly, however we now have given Kris the constitution to in fact step it up, and she or he's performing extraordinarily smartly with her crew.

    Frank A. Calderoni

    And Gary, because the volumes were expanding as we have also been able to carry this out to the industry as a more complete providing to our valued clientele, we're additionally, on your factor concerning the credit score first-rate, now we have considered our portfolio increase basically.

    John T. Chambers

    sure. or not it's a extremely a nice job, Frank, by means of you and with the aid of Kris and team in the container. Rob, a little bit on the cost to the box?

    Robert W. Lloyd

    Cisco Capital is a big one of them, and I think we're moving forward as one team." data-reactid="218">neatly John, we've in reality spent a while on this, and we've viewed that we've had larger deal sizes. we have now had a margin insurance policy, and in many cases margin enhancement and it does provide us an capacity to leverage our huge set up base and definitely churn it much greater regularly. So we are going to be available leveraging our belongings and Cisco Capital is a big one in all them, and that i think we're moving forward as one team.

    John T. Chambers

    Cisco and build on our strengths in the enterprise, et cetera. And I think what you're seeing from Kris Snow is just one example in terms of innovation. We needed to be a more out of box as our emerging markets grew in terms of our credit policy with our partners, and what was is occurring in our channel partners in the field and Rob, we needed to teach the field how to use this type of innovation in a very effective way, tied to finance in terms of a partnership. And so our goal is to be innovative across the board. We've got spots we got to fix, I think we all know that. I wish we could've given you a more direct answer about the second half versus the fourth quarter. We will always try to tell you what we truly see. And good news and bad news just because there's so much volume being new every 120 days, we do tend to see things much before our peers and almost always, unfortunately, fairly accurate in terms of at least the short-term trend. I do want to end on the note of everything that we talked about today, almost without exception, is completely under our control, and our momentum feels very good in the areas that we control and influence. Couple areas we need to be better, we're going to be all over those, and we think we're very well positioned whichever the way this goes. But if I listen to my customers, that's usually where I go, I think we will model through this with a little bit of bumps along the way and we'll see if the second half develops the way we hope. But our guidance will be conservative in what we see in the short term." data-reactid="220">I consider in lots of methods, that is a superb query to conclusion on, Jayson. if you feel about what we're saying, here's about innovation and we are likely to consider of innovation as simply engineering of products. What we're doing as an organization is innovation throughout-the-board, and that in reality is what we're talking at reinventing Cisco. We undoubtedly had a really enterprise base 12 to 18 months in the past the place we should not have recovered as promptly as we did when it comes to market transition, architectural performs. however we acquired ourselves a whole lot more with ease prepared for the way purchasers could buy sooner or later. we have gotten in fact fast, and geez, you and that i've got one other couple of inches to take off. but our weight is getting returned right down to a a lot leaner classification of foundation as we stream forward. nevertheless it's innovation in everything we do. i love the innovation that you have seen out of carrier company, and that i like how we now have actually tied these along side no longer handiest world-type items but world-category products that work collectively from the information middle to anybody's conclusion-person machine, mounted or mobile, very without problems. I suppose we now have bought to proceed to do that across the other segments at Cisco and construct on our strengths within the business, et cetera. and that i consider what you are seeing from Kris Snow is only one example in terms of innovation. We needed to be a more out of container as our rising markets grew when it comes to our credit coverage with our partners, and what was is occurring in our channel companions in the field and Rob, we vital to teach the box the way to use this class of innovation in a really effective approach, tied to finance in terms of a partnership. And so our goal is to be ingenious across the board. now we have acquired spots we got to fix, I feel all of us be aware of that. I wish we may've given you a more direct answer about the 2d half versus the fourth quarter. we will at all times are trying to let you know what we really see. And decent information and dangerous news just as a result of there is so a lot volume being new each a hundred and twenty days, we do are likely to see things lots earlier than our peers and almost always, lamentably, fairly correct in terms of as a minimum the brief-time period trend. I do wish to conclusion on the note of every little thing that we talked about these days, nearly with out exception, is completely under our control, and our momentum feels very good within the areas that we handle and affect. Couple areas we deserve to be more desirable, we'll be everywhere those, and we think we're very well located whichever the style this goes. but when I listen to my shoppers, that's always where i'm going, I consider we can model via this with a little little bit of bumps along the style and we'll see if the 2d half develops the style we hope. however our tips might be conservative in what we see in the short time period.

    Mel, with that, let me flip it lower back to you.

    Melissa Selcher

    Cisco is implementing enhanced planning and reporting processes and as a result, future quarterly earnings calls will take place one week later in our historical schedule." data-reactid="223">wonderful. Thanks, John. Cisco's next quarterly name, so that you can replicate our FY '12 q4 and annual effects, will be on Wednesday, August 15, 2012, at 1:30 Pacific Time, 4:30 jap Time. As we outlined in final quarter's profits call, Cisco is enforcing enhanced planning and reporting techniques and due to this fact, future quarterly earnings calls will take vicinity one week later in our historic agenda.

    Downloadable this fall -- Q3 FY '12 economic statements will be accessible following the name, together with income and gross margin by means of geography and income by means of product classes. income statements, full GAAP to non-GAAP reconciliation suggestions, balance sheet and cash move statements may also be found on our site within the Investor family members part. click on on the financial Reporting element of the website to access the webcast slides and these files.

    Cisco plans to retain its long standing policy to not comment on its financial guidance during the quarter unless it is done through an explicit public disclosure. Please call the Investor Relations department with any follow-up questions from this call. Thank you for your participation and continued support. This concludes our call." data-reactid="225">once more, i want to remind you that in mild of legislation FD, Cisco plans to preserve its lengthy standing policy to not touch upon its monetary suggestions right through the quarter unless it is carried out through an explicit public disclosure. Please name the Investor family members branch with any follow-up questions from this name. thank you for your participation and persevered aid. This concludes our call.


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    Cisco eliminates Backdoor Account from IOS XE application | killexams.com real questions with brain dumps

    Cisco backdoor

    Cisco removed nowadays a backdoor account from its IOS XE working system that might have allowed a far off attacker to log into Cisco routers and switches with a excessive-privileged account.

    The enterprise says the "undocumented consumer account" only affects instruments running Cisco XE software 16.x —an operating system deployed in general with Cisco ASR routers and Catalyst switches.

    Cisco says instruments operating IOS XE sixteen.x include a hidden default account named "cisco," and a static password that Cisco didn't reveal to stay away from future exploitation attempts.

    Cisco contraptions don't constantly include default money owed, and network admins should deploy an account throughout the gadget's first boot-up.

    in view that this account simplest affects v16.x models and makes use of the company's identify for the username, this seems to had been accidentally left over from IOS XE's development or trying out phase.

    If patching isn't possible, mitigations exist

    anyway the utility patches made obtainable on the Cisco consumer portal, machine admins can remove the account by way of typing:

    no username cisco

    This command deletes the account. if they'd want to keep the accunt, admins can additionally log into their machine by way of their commonplace admin user and make the most of that account to alternate the cisco's account default password with one of their personal deciding on.

    The worm can also be exploited remotely

    This "backdoor" vulnerability (CVE-2018-0150) is considered crucial and has a severity score of 9.8 out of 10.

    Attackers can log into this account remotely, and do not always need actual entry to the equipment. The account supplies the attacker a "privilege stage 15 entry," a time period used to describe excessive-privileged accounts.

    The patch for CVE-2018-0150 is one of the 22 safety updates the networking utility colossal posted the day prior to this. The patches also encompass two fixes for 2 different critical flaws —two faraway code execution bugs (CVE-2018-0151 and CVE-2018-0171).

    here's the second backdoor account that Cisco faraway from its utility this month. The business previously removed an analogous account from Cisco PCP, a application software that can be used for the far flung setting up and renovation of different Cisco voice and video items.

    650-325 SP Video Phase II Cable Access

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    An special Cabbage | killexams.com real questions with brain dumps

    I ought to be a peasant at coronary heart, as a result of I see nothing wrong with making an entire meal of soup. A hearty soup at midday is the day's authentic center, a gas that keeps you going until nightfall. And hearty it ought to be -- specifically in February.

    in every single place on the earth there is a local soup, a recipe that starts off with the vicinity's particular soil and the plants it has formed over the years. local weather narrows the parts record, which is further subtle through the garden's seasonal choices, after which given the stamp of finality by means of folk customs. These are usually somewhat conservative. a selected dish might also fluctuate from province to province, village to village and even family unit to family unit, but inside a single kitchen it usually stays the equal. individuals are inclined to make anything the manner their mothers did. or not it's the lifestyle. do not ask for it with out onions, just eat your soup.

    an ideal instance is the Portuguese caldo verde, or "eco-friendly broth." A winter staple, it has been called the Portuguese national dish, besides the fact that it lacks the seafood so characteristic of that country's delicacies. at the start a uniqueness of Minho, a northern province, caldo verde is a scorching broth thickened with mashed potatoes and given a nutritional raise via the addition of Portuguese cabbage. Onions and garlic frequently determine in, in addition to olive oil, which is now and again drizzled on true. Coriander seems in some types, as does linguica -- a delicious pork sausage infected by means of paprika and garlic. The fatter chorico sausage, or slices of the smoked pork loin known as salpicao, may additionally also be used.

    essentially the most critical component is the cabbage, cut into ribbons as thin because the top-quality grass. (The simplest way is to roll several leaves into a decent cylinder and slice it across carefully with a pointy knife.) These ribbons are stirred in barely at the last minute, for two or three minutes of warmth. The short scalding brings out the leaves' staggering green color. much of the character of the soup depends upon identifying not our popular cabbage, but a Portuguese type called couve tronchuda. Its different names include sea-kale cabbage, Gallician cabbage and braganza.

    I make the aspect now not as a nitpicking foodie passionate about authenticity, but as a gardener who first encountered and grew this marvelous plant, then looked for a traditional means to use it within the kitchen. i am all the time interested to find what qualities led a plant to become a staple in a box as crowded because the brassicas. amongst the entire primitive landraces of cabbagelike, kalelike, collardlike vegetables, what brought about this one to be singled out?

    The couve tronchuda I actually have grown is sweeter and extra tender than most cabbages and kales. It appears plenty like collards. Its massive rounded leaves sprout in a bunch atop a brief, thick stem. however the colour is a more energizing eco-friendly, and it has thick, fleshy white ribs, like those of Swiss chard (the ribs are sometimes braised and eaten too). And the flavor is distinct -- satisfactory in order that Portuguese restaurants are trying to are searching for it out for their caldo verde, to provide shoppers a style of the precise element. Tavira, in Chevy Chase, buys it from an undisclosed wholesale supply. Carlos Mendes at Caravella, on Wisconsin Avenue NW in Tenleytown, substitutes collards. "It is very tough to find couve tronchuda in this country," he laments. after I tell him I actually have grown it, he implores me to carry him some.

    Even the seeds are elusive. The handiest American source I've found is Redwood city Seeds, (650-325-7333, www.ecoseeds.com). The catalogue used to listing a couple of kinds, but now only one. (there are many more forms in Europe, including dwarf and curly forms.) The plant is convenient and beneficial for the gardener. It no longer handiest tolerates bloodless -- commonly lasting via a temperate winter -- but also a substantial diploma of warmth, more than with another member of the cabbage family. considering the fact that it is a unfastened-leaf cabbage, you not ever fret about no matter if it'll thoroughly head up. It accepts most fertile, neatly-drained soils, together with heavy ones. now's the time to order seeds. Transplants will also be set out earlier than hazard of frost has passed, about two toes apart within the row.

    The greater the outdoor leaves are picked, the extra the inner ones will sprout from the middle. As you method the heart, these become paler and milder, with a frillier shape.

    i'd advise planting a few rows, to make certain a fine give with a great deal to share. i will be able to just about guarantee you that none of your neighbors could have any. and you'll always provide Mr. Mendes a name.

    California corner: gala's, Feasts & fairs | killexams.com real questions with brain dumps

    Menlo Park--The sixteenth annual Connoisseurs' market celebrates the Bay area's culinary, visible and performing arts on July 20-21. The pageant will feature soul, jazz, R&B and swing music, a juried artwork exhibit, international delicacies, chef demonstrations, wines and microbrews, a grocery store, crafts and a youngsters' enjoyable zone. Santa Cruz Avenue. 10 a.m.-6 p.m. each days. Free. (650) 325-2818, www.miramarevents.com.

    Santa Maria--more than 250 street rods will roll on the Bent Axles Cruise & Barbecue July 19-21. most advantageous viewing should be along South Broadway and at the historical Santa Maria hotel downtown. noon-eight p.m. July 19; eight a.m.-8 p.m. July 20;

    10 a.m.-2 p.m. July 21. Free; Sunday barbecue $7. (805) 934-2607, www.santamaria.com.

    Modesto--Get able to boogie at the Xclamation Fest July 20. About 80 bands will fill 10 tiers throughout downtown Modesto. 21 and older. 3 p.m.-nighttime. $17.50 in boost; $20 on the gate. (800) 331-6255, www.modestoxfest.com.

    Marysville--Eight blocks could be closed off for the California Peach competition July 20. Get your fill of peach treats and check out the entertainment, a 5K Run/stroll and kids's actions. D street downtown. noon-hour of darkness. Free. (530) 741-6666, www.capeachfestival.com.

    Santa Barbara--The 29th annual Santa Barbara Greek pageant July 27-28 will include food, enjoyment, dancing and boutiques. okayPark.

    eleven a.m.-7 p.m. each days. Free. (805) 683-4492, www.saintbarbara.web.


    Schenden's e-mail address is Lkschenden@hotmail.com.

    Laguna tools and Lockdowel Glue-much less assembly hold productivity Workshop for cupboard and furniture Makers: July 6 and seven | killexams.com real questions with brain dumps

    This press unencumber is submitted and proven here in its usual form, unedited via furnishings today.

    Irvine, Calif. – June 9, 2017 – Lockdowel and Laguna equipment are teaming together for a hands-on productiveness workshop for carpenters, cabinet makers and furnishings makers July 6 and 7, 2017, on the Laguna tools headquarters - 2072 Alton Parkway in Irvine, California. members will see how using Lockdowel Eclips fasteners eliminates the want for glue and case clamps and tremendously raises assembly productiveness. Laguna tools will preview their new SmartShop LD4 automated drilling and Lockdowel fastener insertionmachine.

    "Our purchasers have experienced a pretty good ROI with the Smartshop LD4 and Lockdowel Eclips system,” Torben Helshoj, President of Laguna equipment says. “Innovation is at the coronary heart of what we provide, and here's revolutionizing the manufacturing process with its effortless to use and easy meeting procedure. It will pay for itself within the first two years with can charge reduction, waste removing and an awful lot more."

    “Now we have the records to display cabinet makers that by using switching to the Lockdowel assembly formulation they could increase creation three-fold,” President and Co-founder Bryan Koelling says. “cupboard makers the use of Lockdowel inform us they could reduce body of workers from eight or 9 technicians to a few technicians, and dispose of glue and case clamps by means of switching to Lockdowel Eclips fasteners. They store two thirds of the charge of labor!”

    in addition, promoting cabinets and ready-to-bring together (RTA) furniture with Lockdowel fastening reduces customer assembly time through 70% in comparison to ordinary screw assembly methods. Katrina Espinoza, The fashioned Scrapbox TM foreign advertising Director explains, “previous meeting instances of our gold standard-selling cupboard, The WorkBox, had been eight to ten hours with two people. Now with our most advanced design, Lockdowel brings our assembly time all the way down to two or three hours with two people!”

    both repeated days of the workshop should be divided into four-hour periods the place company representatives will demonstrate how to pace up manufacturing and meeting and significantly reduce labor expenses with the glue-less, tool‐much less Lockdowel Lean Manufacturing process , and Laguna tools’ new SmartShop LD4 computerized drilling and Lockdowel fastener insertion computer.

    “These should be palms‐on periods the place participants will learn how to create a lean manufacturing creation environment that saves large time and money,” Koelling says.

    To participate any of the classes click on on this link: https: https://www.eventbrite.com/e/lockdowel-and-laguna-equipment-cupboard-furnishings-workshop-july-6-7-tickets-35085973090

    About Lockdowel

    Lockdowel offers fasteners, drawer slides and hinges for quick and simple setting up and assembly of cabinets, furniture and architectural millwork. Patent pending. Lockdowel 48834 Kato street #110A Fremont, CA 94538; (650) 325-8732 – information@lockdowel.com ; www.lockdowel.com

    Come to the Lockdowel AWFS sales space # 9256 July 18-22, 2017 to peer the fastest, glue-much less, device-much less, assembly solutions today!

    About Laguna tools

    Laguna tools is discovered at 2072 Alton Parkway, Irvine, CA 92606. The business may also be reached at (949) 474 1200 or (800) 234 1976 . Laguna equipment is and Irvine primarily based company of superior CNC machinery and award-profitable bandsaws, tablesaws, edgebanders and offers a complete line of innovative industrial and hobbyist equipment. Laguna tools --"We promote options." www.lagunatools.com

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    mySQL [4 Certification Exam(s) ]
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    Network-General [12 Certification Exam(s) ]
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    RSA [15 Certification Exam(s) ]
    Sair [8 Certification Exam(s) ]
    Salesforce [5 Certification Exam(s) ]
    SANS [1 Certification Exam(s) ]
    SAP [98 Certification Exam(s) ]
    SASInstitute [15 Certification Exam(s) ]
    SAT [1 Certification Exam(s) ]
    SCO [9 Certification Exam(s) ]
    SCP [6 Certification Exam(s) ]
    SDI [3 Certification Exam(s) ]
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    Siemens [1 Certification Exam(s) ]
    Snia [7 Certification Exam(s) ]
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    SpringSource [1 Certification Exam(s) ]
    SUN [63 Certification Exam(s) ]
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    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
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    Vmware [54 Certification Exam(s) ]
    Wonderlic [1 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]

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    Cisco 650-325 Exam (SP Video Phase II Cable Access) Detailed Information


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