“after working our way through the restructuring that we discussed today, for the full year, we think they'll be modestly down.”

In context

“e higher cost that we were seeing from many of our suppliers as everyone was dealing with constraints and supply demand is pretty straightforward. What we haven't seen in the wake of this, some of the commodities, the prices have come down, memory is a good example. But we haven't seen broadly is cost decreases coming in from our providers at this point. And so with that - and you see that reflected in our gross margins, which have returned to a more normal range, but are still sitting in that 66% to 67% range. So I'm not anticipating at this point, price declines pending significant cost declines coming into us. On the cost savings, you can see where we are year-to-date. We've got - if you just look at operating expenses for a minute, year-to-date, operating expenses are modestly up. And after working our way through the restructuring that we discussed today, for the full year, we think they'll be modestly down. So I think that's probably the right way to think about it as you're looking to build your model. Sami Badri: Thank you, Jim. Cisco's next quarterly conference call, which will affect our fiscal year '24 third quarter results will be on Wednesday, May 15, 2024, at 1:30 p.m. Pacific Time, 4:30 p.m. Eastern Time. This concludes today's call. If you have any further questions, please feel free to contact Cisco Investor Relations, and we thank you very much for joining the call today. Operator: Thank you for participating on today's conference call. If you would like to listen to the call in its entirety, you may call 800-876-5258, for participants dialing from outside the U.S., please dial 203-369-3998. This concludes today's call. You may disconnect at this time.”