Cirrus Logic Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 29, 2012
January 24, 2013 at 09:06 pm
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Cirrus Logic Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 29, 2012. For the quarter, the company reported net income of $67.9 million or $0.99 diluted earnings per share on net revenue of $310.1 million compared to net income of $16.7 million or $0.25 diluted earnings per share on net revenue of $122.4 million for the corresponding period last year. Operating income was $106.1 million against $26.4 million for the same period last year. Income before income taxes was $106.2 million against $26.4 million for the same period year ago. Non GAAP net income was $112.8 million or $1.64 Non GAAP diluted earnings per share against Non GAAP net income of $28.8 million or $0.43 Non GAAP diluted earnings per share of prior year period. Non GAAP operating income was $115.4 million against $29.5 million of prior year period.
For the nine months, the company reported net income of $110.2 million or $1.60 diluted earnings per share on net revenue of $602.9 million compared to net income of $37.2 million or $0.55 diluted earnings per share on net revenue of $316.2 million for the corresponding period last year. Operating income was $167 million against $58.6 million for the same period last year. Income before income taxes was $167.3 million against $58.9 million for the same period year ago. Non GAAP net income was $182.5 million or $2.65 Non GAAP diluted earnings per share against Non GAAP net income of $67.7 million or $0.99 Non GAAP diluted earnings per share of prior year period. Non GAAP operating income was $186.6 million against $69 million of prior year period.
Cirrus Logic, Inc. is engaged in low-power, high-precision mixed-signal processing solutions. The Company's product line categories are Audio and High-Performance Mixed-Signal (HPMS). It is a supplier of low-power, low-latency, high-precision audio components that are used in a variety of applications, including smartphones, laptops, tablets, virtual reality/augmented reality headsets, wearables, home theater systems, automotive entertainment systems and professional audio systems. Its Audio Products include amplifiers, codecs, smart codecs, analog-to-digital converters, digital-to-analog converters and standalone digital signal processors. HPMS Products include camera controllers, haptics and sensing solutions, and battery and power integrated circuits (ICs). Additionally, the Companyâs SoundClear technology consists of a broad portfolio of tools, software and algorithms that help to differentiate its customersâ products by improving the user experience.