Components | October 24, 2011

Cirrus Logic reports 2Q revenue of USD 101.6M

Cirrus Logic posted revenues of USD 101.6 million for its fiscal 2nd quarter.
Reported Financial Results

- Revenue of USD 101.6 million
- Gross margin of 53.5%
- GAAP operating expenses were USD 36.4 million
- Non-GAAP operating expenses of USD 32.1 million

“We're very pleased with the culture we've developed, the strategy we're pursuing, the talent and passion of our employees, and the relationships we have with some of the best companies in the world,” said Jason Rhode, president and chief executive officer, Cirrus Logic. “While we are seeing softness in some areas of our business due to issues in the global economy, we still expect significant year over year revenue growth in Q3, and we are well positioned to capitalize on some extraordinary growth opportunities that we believe will enable Cirrus Logic to be a great company for many years.”

Outlook for Third Quarter FY 2012 (ending December 31, 2011):

- Revenue is expected to range between USD 102-108 million;
- Gross margin is expected to be between 53-55%;
- Combined R&D and SG&A expenses are expected to range between USD 37-39 million, which includes approximately USD 3 million in share-based compensation and amortization of acquisition-related intangibles expenses.
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