Neil Carvin submits:
Cisco Systems (NASDAQ: CSCO) earned $0.30 per share in the first quarter of fiscal 2010, which ended 24 October 2009, down from $0.37 in the same quarter of last year. Non-GAAP (i.e., "pro forma" or "ex-items") earnings per share slid from $0.42 to $0.36. Share-based compensation and amortization of acquisition-related intangible assets were the most significant differences between the GAAP and non-GAAP results.
In November, we examined Cisco’s Income Statement for the October quarter and compared the entries on each line to our "look-ahead" estimates. We later performed a financial gauge analysis of Cisco, which determined that the GCFR Overall gauge fell from 36 to 25 of the 100 possible points.