On The Call: "Everyone is focused on gross margins..."

Executives

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

Gary B. Moore - Chief Operating Officer, Head of the Services Organization and Executive Vice President

Frank A. Calderoni - Chief Financial Officer and Executive Vice President

Melissa Selcher -

Analysts

Brian J. White - Ticonderoga Securities LLC, Research Division

Simona Jankowski - Goldman Sachs Group Inc., Research Division

John Slack - Citigroup Inc, Research Division

Nikos Theodosopoulos - UBS Investment Bank, Research Division

Simon M. Leopold - Morgan Keegan & Company, Inc., Research Division

Ehud Gelblum - Morgan Stanley, Research Division

Ittai Kidron - Oppenheimer & Co. Inc., Research Division

Shaw Wu - Sterne Agee & Leach Inc., Research Division

Brian T. Modoff - Deutsche Bank AG, Research Division

Rod B. Hall - JP Morgan Chase & Co, Research Division

Jayson Noland - Robert W. Baird & Co. Incorporated, Research Division

Tal Liani - BofA Merrill Lynch, Research Division

Jeffrey T. Kvaal - Barclays Capital, Research Division

Mark Sue - RBC Capital Markets, LLC, Research Division