© bahar bostanci Business | August 03, 2017

Cirrus Logic reports 1Q/18 revenue of USD 320.7M

Cirrus Logic posted revenue of USD 320.7 million for the first quarter fiscal year 2018 (ended June 24, 2017). GAAP gross margin amounted to 50.4 percent, while GAAP operating expenses stood at USD 114.4 million.
“Cirrus Logic delivered solid results in the June quarter as demand for portable audio products was in line with expectations,” said Jason Rhode, president and chief executive officer. “We are extremely pleased as design activity remained strong across our portfolio and we achieved several new product development milestones over the past several months. As demand for innovative audio and voice solutions continues to increase across a wide range of end markets we believe our diversified product portfolio and roadmap will continue to position us for success for many years to come.”

Business Outlook – Second Quarter FY18
  • Revenue is expected to range between USD 390 and 430 million
  • GAAP gross margin is expected to be between 48 and 50 percent
  • Combined GAAP R&D and SG&A expenses are expected to range between USD 119 and 125 million, which includes approximately USD 13 million in share-based compensation and USD 12 million in amortisation of acquired intangibles
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