Cirrus Logic Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2012
January 26, 2012 at 09:01 pm
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Cirrus Logic Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2011. The company reported net revenue of $122,368,000, operating income of $26,399,000, income before income taxes of $26,440,000, net income of $16,731,000 or $0.25 per diluted share against net revenue of $95,625,000, operating income of $23,108,000, income before income taxes of $23,289,000, net income of $24,621,000 or $0.34 per diluted share a year ago. Non-GAAP net income was $28,845,000 or $0.43 per diluted share against $24,169,000 or $0.34 per diluted share a year ago. Non-GAAP operating income was $29,521,000 against $24,503,000 a year ago.
For the nine months, the company reported net revenue of $316,212,000, operating income of $58,648,000, income before income taxes of $58,911,000, net income of $37,156,000 or $0.55 per diluted share against net revenue of $278,138,000, operating income of $69,662,000, income before income taxes of $70,322,000, net income of $73,097,000 or $1.02 per diluted share a year ago. Non-GAAP net income was $67,704,000 or $0.99 per diluted share against $73,250,000 or $1.02 per diluted share a year ago. Non-GAAP operating income was $69,057,000 against $73,891,000 a year ago.
For the fourth quarter, the company expects revenue in range between $108 million and $112 million and gross margin is expected to be between 54% and 56%.
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.
Cirrus Logic Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2012