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This presentation contains projections and other forward-looking statements regarding future events or financial performance of Cisco, including future operating results. Cisco provides a reconciliation between GAAP and non-GAAP financial information on its website at www.cisco.com under "About Cisco" in the "investor relations" section.
This presentation contains projections and other forward-looking statements regarding future events or financial performance of Cisco, including future operating results. Cisco provides a reconciliation between GAAP and non-GAAP financial information on its website at www.cisco.com under "About Cisco" in the "investor relations" section.
This presentation contains projections and other forward-looking statements regarding future events or financial performance of Cisco, including future operating results. Cisco provides a reconciliation between GAAP and non-GAAP financial information on its website at www.cisco.com under "About Cisco" in the "investor relations" section.
December 12, 2013 2013 Financial Analyst Conference Our Strategy & Opportunity 2013 Cisco and/or its affiliates. All rights reserved. Forward-looking Statements This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ materially from those in the projections or other forward- looking statements. Please see Ciscos filings with the SEC, including its most recent filings on Form 10-K and 10-Q, for a discussion of important risk factors that could cause actual events or results to differ materially from those in the projections or other forward-looking statements.
GAAP Reconciliation During this presentation references to financial measures of Cisco will include references to non-GAAP financial measures. Cisco provides a reconciliation between GAAP and non-GAAP financial information on our website at www.cisco.com under About Cisco in the Investor Relations section. http://investor.cisco.com/financialstatements.cfm 2013 Cisco and/or its affiliates. All rights reserved. Whats On Your Mind About Cisco Pace of Change 2 Implications What Happened in Q1? Q2 Guidance? Capture Market Transitions Cloud, SDN Ability to Maintain Market Share, Margins Why is Cisco More Relevant to Customers Today and Tomorrow? What Cisco Looks Like in 3+ Years?
Commitment to Shareholder Value 2013 Cisco and/or its affiliates. All rights reserved. Changing The World is 2013 Cisco and/or its affiliates. All rights reserved. And Its Changing Fast Pace Of Change 2 Technology Transitions Economic Transitions Market Transitions 2013 Cisco and/or its affiliates. All rights reserved. The Only Constant is Change Business Implications Technology Transitions Mobile New Breed of Apps Cloud Data & Analytics Internet of Things Experience Expectations Growth & Innovation Security & Privacy New Business Models Agility & Speed 2013 Cisco and/or its affiliates. All rights reserved. Cisco The Disruptor Technology Transitions Bridged Network Centric PC Voice and Data Dedicated Fixed Circuit Shared Unconnected Application Centric Cloud Any Device Video Virtual Mobile Packet Switched Routed Internet of Everything MOVING TO IP DC 2013 Cisco and/or its affiliates. All rights reserved. Our Competitive Advantage Market Transitions Customer Driven Architectures (5 Phases) Sustainable Differentiation 2013 Cisco and/or its affiliates. All rights reserved. Innovation Engine In the Last Year Catalyst 3850 Catalyst 6800 Nexus 7700 ISR 4400 CRS-X NCS UCS + Whiptail ACI + Nexus 9K Cisco Expressway Jabber Guest MX300 Security Services ASA Virtual Firewall NG Security Appliance Meraki Cariden Broadhop Intucell Systems Cognitive Security SolveDirect Ubiquisys JouleX Composite Software Sourcefire Whiptail Insieme Citrix Microsoft NetApp RedHat VCE F5 EMC IBM SAP Symantec
*Partners from ACI Launch Build Partner Buy 2013 Cisco and/or its affiliates. All rights reserved.
Q1 FY14 Results
Financial Highlights Geographical Highlights Product & Service Portfolio Highlights
63.0% 62.0% 66.6% 58% 60% 62% 64% 66% 68% Total Product Services Switching NGN Routing SP Video Collaboration Wireless Datacenter Security Other Services Y/Y 2013 Cisco and/or its affiliates. All rights reserved. Nexus 9K CRS-X New Platforms NCS Service Provider Three Focus Areas Emerging Markets 2013 Cisco and/or its affiliates. All rights reserved. Nexus 9K CRS-X New Platforms NCS Service Provider Emerging Markets If orders in emerging, service provider and high end core had grown consistent with Q4, product orders would have been +5% (not -4%). 2013 Cisco and/or its affiliates. All rights reserved. What Happened Q3 / Q4 Q1... Pace of Change Top 5 India Russia Brazil China Mexico Rest Q3 13% 29% 16% 14% 8% 4% 13% Q4 1% 19% 0% -1% -6% 12% 15% +6% -11% Europe* +12% -3% APJC +12% +5% US Comm +9% 0% US ENT +4% -11% US PS Emerging +13% -5% SP Developed 2013 Cisco and/or its affiliates. All rights reserved. *Developed Europe. Metrics are orders, Percentages refer to annual growth rate for each quarter. Upper Section refers to Q3FY13 & Q4FY13. Bottom section represents growth rate range from a period of highest to lowest range of variably within last 5-7 quarters Emerging Countries Long-Term Growth 6-10% What / Why Q3/Q4 Q1 Economic Currency Always 2 3 Unique Areas Improve Vision / Strategy Outcomes / Results Architectures Phase Implementation Focus Entire Company CSR Digitize Country Numerous external factors affect supply and demand over which we have limited control. Cisco seeks to take these factors into account to the extent possible when predicting future events. Actual results could differ materially from these hypothetical scenarios due to a variety of factors listed in Cisco SEC filings, including business and economic conditions.
Top 5 13% -21% Total = 13% -12% 2013 Cisco and/or its affiliates. All rights reserved. Israel 1 st Digital Country / Innovation 2X Growth 4 Years Forecast Double Digit Next 3 4 Years Growth Jobs Inclusion Education Healthcare Innovation Urbanization S+CC Security 2013 Cisco and/or its affiliates. All rights reserved. Reality of Service Provider Today Service Provider Cost and Profits Service Provider ARPU 0% 15% 65% 75% 2009 2013 OPEX Revenue CAPEX / Revenue 2009 2013 Fixed Data Fixed Voice Mobile Voice Mobile Data Source: ACG Research, Q3 2013 2013 Cisco and/or its affiliates. All rights reserved. Service Provider Q114 Product Bookings -13 -12 -11 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 -6% Product Transitions / New Platforms -2% -13% -3% Set-tops SP Video Edge Other -2% 2013 Cisco and/or its affiliates. All rights reserved. Service Provider Focus Outcomes / Results OpEx / CapEx / Speed Resource Allocation Speed of Decisions / Deals Operational Excellence Business Entities Customer Segment OpEx / CapEx ARPU Speed Services Monetization Innovation / Differentiation Decisions on Architectures Lengthening SP Outcomes / Results An Expanded SP Approach Geographic Cisco Innovation (Disruptor) Architectures Customer Driven #1 Products Differentiation 2013 Cisco and/or its affiliates. All rights reserved. Recent New Platforms and Product Refreshes Nexus 9K CRS-X New Platforms NCS Switching & Storage Catalyst 2900 refresh Unified Access Catalyst 3850 Nexus 6000 Nexus 7700 with F3 Nexus 9000 SAN refresh 16GB Wireless 1K, 2K and 3K Access Points refresh (incl. AP3700 11ac) Next Generation Routing CRS-X NCS (6000 and 4000) ISR 4400 Cloud Services Routers Security Mid Range ASA refresh Collaboration Endpoints Cisco DX650 Video phones Cisco Speaker Track 60 Camera Cisco TelePresence MX300 G2 Infrastructure TelePresence Server on Virtual Machine Cisco Collaboration Systems Rel 10.0 WebEx enabled TelePresence Conferencing Jabber Guest Cisco WebEx Meetings Server Update Servers UCS Sandy and IV Bridge refresh SP Video Software and Solutions Videoscape Unity (CES2013) Various NDS Suites: Videoscape Security Suite, Media Highway client platform, Snowflake 13 and 14 Solutions: cDVR, Video Everywhere, Videoscape Express New client platforms: OpenUX Snowflake, Software Solutions for RDK Infrastructure DS384 for Converged Video and Data on RFGW10 Encoding & Streaming: DCM, AnyRes, PNC, D9859 Product Margin Strength & Stability 2013 Cisco and/or its affiliates. All rights reserved. Segments Service Provider Enterprise Commercial Public Sector 2013 Cisco and/or its affiliates. All rights reserved. Enterprise / Commercial #1 IT Partner Vision / Strategy 5 QuartersUS Enterprise 8-10%, US Commercial = 5-11% Customers Outcomes / Results Market Transitions Architectures #1 Products Software / Hardware / ASICs / Services Channel Leadership CRN 100 Leaders Expanding Sales Resources Customer Satisfaction Innovate B / B / P Disruptor Transitions IoE, ACI, Security CIO Conference #1 IT Partner BUSINESS ENTITIES CUSTOMER SEGMENT GEOGRAPHIC 2013 Cisco and/or its affiliates. All rights reserved. Numerous external factors affect supply and demand over which we have limited control. Cisco seeks to take these factors into account to the extent possible when predicting future events. Actual results could differ materially from these hypothetical scenarios due to a variety of factors listed in Cisco SEC filings, including business and economic conditions.
Cisco Growth Drivers Tied to Technology Transitions Real Power of Cisco Architectures Driving Growth Now Invest for Growth Future Growth Mobility Video Cloud Emerging Markets Services Collaboration Software Internet of Everything Security Core Routing & Switching is the Foundation Architectures ASICs + Software + Hardware + Services 2013 Cisco and/or its affiliates. All rights reserved. 50% #1 TelePresence 40% #1 Web Conferencing 22% #2 X86 Blade Servers 45% #2 Storage: Area Networks 31% #1 Network Security
#1 Cloud* Leading Market Share Deliver Architectures Disrupt (Q3 CY13) #1 ENT Routing 75% #1 Wireless LAN 54% #1 Switching: Modular/Fixed 66% #1 Voice 38% #1 SP Routing 53% Source: DellOro, ACG, Synergy, IDC, Infonetics December 2013 15% *Q2 CY13 Data 2013 Cisco and/or its affiliates. All rights reserved. Cisco Competitors Lacking Breadth and Architecture #1 ENT Routing #1 TelePresence #1 Wireless LAN #1 Switching: Modular/Fixed #1 Voice Cisco Network Security share does NOT include Sourcefire #2 X86 Blade Servers #1 Web Conferencing #2 Storage: Area Networks #1 Network Security Competitors listed above are not the only competitors in these markets and share shown is relative share versus listed competitors Customers Problems OpEx Integrator, Speed of Services Delivery Cisco Checkpoint Juniper Fortinet Other Cisco Avaya Unify NEC Other Cisco Polycom Huawei Logitech Other Cisco Aruba HP Ruckus Other Cisco HP Juniper Dell Other 2013 Cisco and/or its affiliates. All rights reserved. Cisco HP Juniper Huawei Other Cisco HP IBM Dell Other Cisco Citrix Microsoft Adobe IBM Other Cisco Brocade HP Other Architecture for Mobile Service Providers Take Our Weakness, Make It Our Strength UNIFIED DATA CENTER INTELLIGENT NETWORK CLOUD SERVICES MOBILE / FIXED CLIENT ACCESS Next Generation HotSpot (2.0) V i d e o s c a p e
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M e d i a n e t
C o l l a b o r a t i o n
IP Core Packet Core RAN Backhaul Foundation for the Next-Generation Internet Small Cell Gateway ASR 9000/5000 UCS / Nexus NDS Macro Cells 2G/3G/4G Small Cells Wi-Fi Femto Any to Any (Devices / Video Interoperability) Set Top Box 2013 Cisco and/or its affiliates. All rights reserved. Architectures 2013 Cisco and/or its affiliates. All rights reserved. Appliances to Architecture WWW Context Aware Functions IPS Functions Malware Functions VPN Functions Traditional Firewall Functions 2013 Cisco and/or its affiliates. All rights reserved. Cisco Security Architecture S E R V I C E S
Access Control CI SCO SECURI T Y APPL I CAT I ONS + 3 RD PART Y APPL I CAT I ONS Security Management APIs Firewall S E C R U I T Y
S E R V I C E S
P L A T F O R M
ASIC Data Plane I N F R A S T R U C T U R E
E L E M E N T
L A Y E R
Device API OnePK, OpenFlow, CLI Cisco Network Operating Systems (Enterprise, Data Center, Service Provider) Route Switch Compute Software Data Plane Cisco ONE APIs Platform APIs Cloud Intelligence APIs Physical Appliance Virtual Cloud Context Awareness Content Inspection Application Visibility Threat Prevention APIs APIs COMMON SECURI T Y POL I CY & MANAGEMENT 2013 Cisco and/or its affiliates. All rights reserved. Network Integrated, Broad Sensor Base, Context and Automation Continuous Advanced Threat Protection, Cloud-Based Security Intelligence Agile and Open Platforms, Built for Scale, Consistent Control, Management Most Comprehensive Security Approach Outcomes Network Endpoint Mobile Virtual Cloud Visibility Driven Threat Focused Platform Based 2013 Cisco and/or its affiliates. All rights reserved. 24 10 9 8 7 6 4 4 4 -5 -15 -5 5 15 25 35 CSCO EXTR ARUN BRCD JNPR ADTN FFIV SHOR RVBD HP Jan 13 Survey Apr 13 Survey Jun 13 Survey Oct 13 Survey Equipment Spending Plan Over Next 12 Months SDN in Data Center Cisco the Leader More able In-line with peers Less able Dont know 5% 10% 30% 25% 30% 10% 10% 30% 30% 20% 15% 20% 30% 35% Down 10%Down 5% - 10% Down 0% - 5% Flat Up 0% - 5% Up 5% - 10% Up 10%+ Apr. 2013 Jul. 2013 Oct. 2013 Expected Y/Y Spending on Cisco Voice of Our Customers 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% ALU ARISTA IBM HP JNPR Brocade CSCO 2013 Cisco and/or its affiliates. All rights reserved. Source: Morgan Stanley CIO Survey, October 2013, Barclays Networking Survey, C3Q13 Voice of Our Customers No Yes No Yes NO 92% Are you considering changing your primary networking hardware vendors in the next 12 months? NO 88% YES 12% YES 8% 2013 2012 Source: Network Purchase Intentions, ZK Research, October 2013 2013 Cisco and/or its affiliates. All rights reserved. Why Are Our Customers Saying This? 2013 Cisco and/or its affiliates. All rights reserved. Evolution to Application Centric Infrastructure Disruptor 2010 Compute Network Storage VIRTUALIZATION 2005 Data Voice Video Network IP CONVERGENCE Today App Economy Applications, Networking, and Scale With Security APPLICATION CENTRIC INFRASTRUCTURE 2013 Cisco and/or its affiliates. All rights reserved. Our Discussion Last Year APPLICATIONS PRESENTATION SESSION TRANSPORT NETWORK DATA PHYSICAL OLD MODEL: Client Server Applications Unified Platform The Network / Internet is the Platform ASICS + Hardware + Software + Services Intelligent IP Network NEW MODEL: Mobile - Cloud Infrastructure 2013 Cisco and/or its affiliates. All rights reserved. Plays to All Our Strengths
Today SDN First Generation Very Complex 2 Separate Networks Very Costly, Challenges Reliability / Flexibility We Will Embrace and Lead NG SDN Huge Opportunity NG SDN / ACI / Fast IT Application Centric Infrastructure Why is SDN Good for Cisco Client Server Mobile Cloud App Economy Fast IT Network Programmability
2013 Cisco and/or its affiliates. All rights reserved. Rewrite Rules Programmability Deploy Across Network Cloud / DC, WAN, Access
Application Centric Infrastructure
I N N O VAT I O N Physical Virtual Services Networking APPLI CATI ON NETWORK POLI CY SI NGLE POI NT OF MANAGEMENT A Simplified Network Open Source
Open Community
Open APIs SYSTEMS SOFTWARE HARDWARE ASI C Separates Applications Common Policy Infrastructure Application Policy Oriented Management Enables Application Agility Automates and Unifies Physical and Virtual Networks Leading Edge Performance and Unprecedented Scale Industrys 1 st Adaptive System That Enables Application Agility, Automation and Visibility 2013 Cisco and/or its affiliates. All rights reserved. CAPEX Switch CAPEX / OPEX for Network + SDN Cisco Driving Industry Leading TCO Performance Source: Cisco , ***Gartner: http://www.gartner.com/id=2580215 NO WHITEBOX ADVANTAGE 3 Year Capex $5,500* $4,000* Whitebox $2,500 Switch SW $1,000 per year Branded Switch w/ integrated HW/SW 27% $14 NETWORK $15 NETWORK $100 VM TAX 0 20 40 60 80 100 120 140 160 180 Network Virtualization + Merchant Switches App Centric Cisco $154 $40 Source: * Deutsche Bank 9/27/2013: Whitebox Switches Are Not Exactly a Bargain; ASP for 64 port 10GE switch ** Cisco IT 75% TCO SAVINGS $40 OPEX*** $25 OPEX** 2013 Cisco and/or its affiliates. All rights reserved. Execution Summary 5 Weeks From Launch N9K 1% 11% 11% 77% $40M - $100M $5M - $10M $1M - $5M $100K-$1M 0% 20% 40% 60% 80% 100% 15% 7% 26% 19% 13% 20% Other APJC EMEAR US Commercial US SP US Enterprise PIPELINE ~305 CUSTOMERS OPEN ECOSYSTEM ACCELERATION OpenStack and Open Daylight Working Groups Established NetApp: Flexpod UCS Director Integration (FCS Nexus 9K in Flexpod Feb 2014) SAP: ACI SAP HANA Deployment Automation GTM Partnership Traction: Microsoft, F5, Citrix, VCE 125 Trained, 350 with 1500 Engineers in Next 6 Weeks DEAL SIZE BUILDING EARLY CUSTOMER TRACTION WITH APIC SIMULATOR RAPID CHANNEL PARTNER SCALE 2013 Cisco and/or its affiliates. All rights reserved. of Economic Opportunity $14.4 T R I L L I O N Internet of Everything 2013 Cisco and/or its affiliates. All rights reserved. Cisco Differentiation Achieve Customer Goals #1 Customer Satisfaction Innovation / The Disruptor #1 Partner Satisfaction Software, ASICs, Hardware, Services #1 13 Product Families, #2 in 4, #3 in 2 Scale with Security End-to-End Architectures Role of Network Increasing Dramatically 2013 Cisco and/or its affiliates. All rights reserved. #1 IT Company Everything We Do Deliver Value for Shareholders IoE, ACI, Security, Cloud (New Drivers) Customers, Partners, Relevance Our Competitive Advantage Architectures 2013 Cisco and/or its affiliates. All rights reserved. Thank You 2013 Cisco and/or its affiliates. All rights reserved. Forward-Looking Statements These presentation slides and related conference call may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as statements regarding our growth and strategy) and the future financial performance of Cisco that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, including our foundational priorities, and in certain geographical locations; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters, and governmental investigations; natural catastrophic events; a pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Ciscos most recent reports on Form 10-K and Form 10-Q. The financial information contained in these presentation slides and related conference call should be read in conjunction with the consolidated financial statements and notes thereto included in Ciscos most recent reports on Form 10-K and Form 10-Q, as each may be amended from time to time. Ciscos results of operations for prior periods are not necessarily indicative of Ciscos operating results for any future periods. Any projections in these presentation slides and related conference call are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of these presentation slides and related conference call. 2013 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 43