Press release
Cirrus Logic Reports Fourth Quarter Revenue of $490.0 Million and Full Fiscal Year 2022 Revenue of $1.78 Billion
Content Gains Drove Record Fourth Quarter and Full Fiscal Year Revenue and EPS AUSTIN, Texas--(BUSINESS WIRE)-- Cirrus Logic, Inc. (Nasdaq: CRUS) today
About this update from Cirrus Logic, Inc.
[{"type":"text","content":"\nContent Gains Drove Record Fourth Quarter and Full Fiscal Year Revenue and EPS\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nCirrus Logic, Inc. (Nasdaq: CRUS) today posted on its website at investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the fourth quarter and full fiscal year 2022, which ended March 26, 2022, as well as the company’s current business outlook.\n\n“We delivered strong financial results in FY22 as revenue increased 30 percent year over year driven by high-performance mixed-signal content gains,” said John Forsyth, Cirrus Logic president and chief executive officer. “In FY22, the company successfully executed several key strategic initiatives and increased product diversification through significant growth in our high-performance mixed-signal business. Going forward, we expect to continue leveraging our expertise in data conversion and signal processing to capitalize on exciting opportunities in new applications and markets.”\n\nReported Financial Results – Fourth Quarter FY22\n\n\nRevenue of $490.0 million;\n\n\nGAAP gross margin of 52.8 percent and non-GAAP gross margin of 52.9 percent;\n\n\nGAAP operating expenses of $150.9 million and non-GAAP operating expenses of $123.1 million; and\n\n\nGAAP earnings per share of $1.64 and non-GAAP earnings per share of $2.01.\n\n\nA reconciliation of GAAP to non-GAAP financial information is included in the tables accompanying this press release.\n\nReported Financial Results – Full Year FY22\n\n\nRevenue of $1.78 billion;\n\n\nGAAP gross margin of 51.8 percent and non-GAAP gross margin of 52.1 percent;\n\n\nGAAP operating expenses of $557.3 million and non-GAAP operating expenses of $456.2 million; and\n\n\nGAAP earnings per share of $5.52 and non-GAAP earnings per share of $6.90.\n\n\nA reconciliation of GAAP to non-GAAP financial information is included in the tables accompanying this press release.\n\n\nBusiness Outlook – First Quarter FY23\n\n\nRevenue is expected to range between $350 million and $390 million;\n\n\nGAAP gross margin is forecasted to be between 49 percent and 51 percent; and\n\n\nCombined GAAP R&D and SG&A expenses are anticipated to range between $147 million and $153 million, including approximately $19 million in stock-based compensation expense, $8 million in amortization of acquired intangibles and $...