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This Annual Report contains forward-looking
statements regarding future events and the future results of Cisco that are based
on current expectations, estimates, forecasts, and projections about the industries
in which Cisco operates, and the beliefs and assumptions of the management of Cisco.
Words such as "expects," "anticipates," "targets," "goals," "projects," "intends,"
"plans," "believes," "seeks," "estimates," and variations of such words and similar
expressions are intended to identify such forward-looking statements. Readers are
cautioned that these forward-looking statements are only predictions and are subject
to risks, uncertainties and assumptions that are difficult to predict. Therefore,
actual results may differ materially and adversely from those expressed in any
forward-looking statement. Readers are referred to the documents filed by Cisco
with the Securities and Exchange Commission, specifically the most recent reports
on Forms 10-K, 10-Q and 8-K, each as it may be amended from time to time, which
identify important risks and uncertainties that could cause actual results to differ
from those contained in the forward-looking statements, including: economic and market
conditions; overall information technology spending; fluctuations in customer demand
for products and services; the timing and size of orders and manufacturing lead times;
difficulty in predicting our revenues; maintaining appropriate levels of inventory and
purchase commitments; variations in the mix of products and services sold; ability to
achieve targeted costs reductions; increased competition in the networking and
communications industries; ability to introduce and achieve market acceptance of new
technologies, products and standards; rapid changes in technology and the markets;
disruption of or changes in the product distribution model or customer base; product
defects and returns; availability of components and manufacturing capacity; entrance
into new or developing markets; ability to integrate and operate acquired businesses
and technologies; increasing customer credit risk; rate of growth of the Internet and
Internet-based systems; factors arising from international operations, including
currency fluctuations; timing and amount of employer payroll tax to be paid on
employees' gains on stock options exercised; changes in accounting rules; protection
and validity of patents and other intellectual property rights; litigation involving
securities, intellectual property and other matters; and ability to retain and recruit
key personnel, among others. Cisco undertakes no obligation to revise or update publicly
any forward-looking statements for any reason.
