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© pichetw dreamstime.com Business | January 08, 2016

Cirrus warns on 3Q results

Cirrus Logic, Inc. announced preliminary net revenue of approximately USD 347 million, based on unaudited financial results for the third quarter, which ended Dec. 26, 2015.
Our preliminary revenue results reflect weaker than anticipated demand for certain portable audio products. This weakness escalated over the last few weeks of December and is expected to continue to significantly impact our revenue in the March quarter,” said Jason Rhode, president and chief executive officer. “Despite this lower outlook for the short term, we expect our full FY16 results to reflect meaningful year-over-year revenue growth and further foresee strong growth for FY17 based on several anticipated new product introductions. The company is well positioned to benefit from the rapidly growing demand for innovative audio and voice products in the mobile phone, smart accessory and digital headset markets. We are aligned with the very best customers and have a comprehensive and robust product portfolio that spans the complete audio signal chain. With numerous growth vectors, we believe the company is poised for continued success in the coming years.”
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