Cirrus Logic Raises Q2 Revenue Guidance
October 05 2009 - 4:01PM
Business Wire
Cirrus Logic Inc. (Nasdaq: CRUS) today announced that the
company expects net revenue for the second fiscal quarter, which
ended on Sept. 26, 2009, to be up 48 percent sequentially to
approximately $55.7 million, an increase from the previous forecast
of $48 million to $52 million. The increase in revenue is primarily
driven by stronger than previously anticipated demand for audio
products.
The company expects gross margin to be at the upper range of the
previous guidance estimate of 50 percent to 52 percent. Combined
R&D and SG&A expenses are now expected to be approximately
$24.1 million, and include an estimated $1.8 million in share-based
compensation, and amortization of acquisition-related intangible
expenses.
Cirrus Logic also announced that it will hold its quarterly
conference call to discuss second quarter, fiscal year 2010
financial results on Tuesday, Oct. 20, 2009, at 10:30 a.m. EDT.
Cirrus Logic will release the company's financial results at
approximately 8:00 a.m. EDT on the same day.
To listen to the live conference call, dial (480) 629-9820, or
toll-free at (877) 941-8631 (Conference ID: 4165423) by 10:20 a.m.
EDT on Oct. 20. A replay of the conference call will be available
beginning one hour following the completion of the call, until Oct.
27, 2009. To access the recording, dial (303) 590-3030, or
toll-free at (800) 406-7325 (Conference ID: 4165423). Additionally,
the conference call will be webcast live through the Investor
section of the Cirrus Logic website at www.cirrus.com.
Cirrus Logic, Inc.
Celebrating its 25th year as a leading fabless semiconductor
company in 2009, Cirrus Logic develops high-precision, analog and
mixed-signal integrated circuits for a broad range of innovative
customers. Building on its diverse analog and signal-processing
patent portfolio, Cirrus Logic delivers highly optimized products
for a variety of audio and energy-related applications. The company
operates from headquarters in Austin, Texas, with offices in
Tucson, Ariz., Europe, Japan and Asia. More information about
Cirrus Logic is available at www.cirrus.com.
Safe Harbor Statement
Except for historical information contained herein, the matters
set forth in this news release contain forward-looking statements,
including our estimates of second quarter fiscal year 2010 revenue,
gross margin, combined research and development and selling, and
general and administrative expense levels. In some cases,
forward-looking statements are identified by words such as
“expect,” “anticipate,” “target,” “project,” “believe,” “goals,”
“opportunity,” “estimates,” and “intend,” variations of these types
of words and similar expressions are intended to identify these
forward-looking statements. In addition, any statements that refer
to our plans, expectations, strategies or other characterizations
of future events or circumstances are forward-looking statements.
These forward-looking statements are based on our current
expectations, estimates and assumptions and are subject to certain
risks and uncertainties that could cause actual results to differ
materially. These risks and uncertainties include, but are not
limited to, the following: overall economic pressures and general
market and economic conditions; overall conditions in the
semiconductor market; the level of orders and shipments during the
second quarter of fiscal year 2010, as well as customer
cancellations of orders, or the failure to place orders consistent
with forecasts; the loss of a key customer; pricing pressures; and
the risk factors listed in our Form 10-K for the year ended March
28, 2009, and in our other filings with the Securities and Exchange
Commission, which are available at www.sec.gov. The foregoing
information concerning our business outlook represents our outlook
as of the date of this news release, and we undertake no obligation
to update or revise any forward-looking statements, whether as a
result of new developments or otherwise.
Cirrus Logic and Cirrus are trademarks
of Cirrus Logic Inc.
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