Cirrus Logic Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 26, 2015; Provides Revenue Guidance for the Fourth Quarter of 2016
January 28, 2016 at 02:30 am IST
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Cirrus Logic Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 26, 2015. For the quarter, the company reported net sales of $347,863,000 against $298,606,000 a year ago. Income from operations was $63,911,000 against $44,374,000 a year ago. Income before income taxes was $62,395,000 against $42,261,000 a year ago. Net income was $41,384,000 against $22,729,000 a year ago. Diluted earnings per share were $0.63 against $0.35 per share a year ago. Non-GAAP net income was $54,120,000 against $63,312,000 a year ago. Non-GAAP diluted earnings per share were $0.82 against $0.97 per share a year ago. GAAP operating income was $63,911,000 against $44,374,000 a year ago. Non-GAAP operating income was $80,384,000 against $67,243,000 a year ago.
For the nine months, the company reported net sales of $937,252,000 against $661,385,000 a year ago. Income from operations was $158,019,000 against $78,362,000 a year ago. Income before income taxes was $154,876,000 against $61,619,000 a year ago. Net income was $109,618,000 against $33,829,000 a year ago. Diluted earnings per share were $1.66 against $0.52 per share a year ago. Non-GAAP net income was $133,172,000 against $130,924,000 a year ago. Non-GAAP diluted earnings per share were $2.01 against $2.01 per share a year ago. GAAP operating income was $158,019,000 against $78,362,000 a year ago. Non-GAAP operating income was $194,977,000 against $136,313,000 a year ago.
The company provided revenue guidance for the fourth quarter of 2016. For the quarter, the company's revenue is expected to range between $210 million and $240 million.
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 26, 2015; Provides Revenue Guidance for the Fourth Quarter of 2016