Press release
Cirrus Logic Reports Q2 FY22 Revenue of $465.9 Million
High-Performance Mixed-Signal Content Gains Drove 34 Percent Year-Over-Year Revenue Growth AUSTIN, Texas--(BUSINESS WIRE)-- Cirrus Logic, Inc. (Nasdaq: CRUS)
About this update from Cirrus Logic, Inc.
[{"type":"text","content":"\nHigh-Performance Mixed-Signal Content Gains Drove 34 Percent Year-Over-Year Revenue Growth\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nCirrus Logic, Inc. (Nasdaq: CRUS) today posted on its website at http://investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the second quarter fiscal year 2022, which ended Sept. 25, 2021, as well as the company’s current business outlook.\n\n“Cirrus Logic reported record revenue and EPS for the September quarter and delivered solid year-over-year operating profit growth,” said John Forsyth, Cirrus Logic president and chief executive officer. “During the quarter we made great progress on the company’s strategy to diversify beyond audio. In our high-performance mixed-signal product line, we brought our new power conversion and control IC to market, increased the attach rate of our camera controllers in smartphones and sampled new fast-charging products to our general market customers. This represents a significant expansion of Cirrus Logic’s technology and product mix, with our high-performance mixed-signal business delivering 30 percent of total revenue in the first half fiscal year 2022, up 117 percent year over year. We continue to be excited about the opportunities these new technologies offer for further growth and diversification in the future.”\n\n\nReported Financial Results – Second Quarter FY22\n\n\nRevenue of $465.9 million;\n\n\nGAAP gross margin of 50.5 percent and non-GAAP gross margin of 51.3 percent;\n\n\nGAAP operating expenses of $140.2 million and non-GAAP operating expenses of $114.5 million; and\n\n\nGAAP earnings per share of $1.43 and non-GAAP earnings per share of $1.82.\n\n\nA reconciliation of GAAP to non-GAAP financial information is included in the tables accompanying this press release.\n\nBusiness Outlook – Third Quarter FY22\n\n\nRevenue is expected to range between $490 million and $530 million;\n\n\nGAAP gross margin is forecasted to be between 50 percent and 52 percent; and\n\n\nCombined GAAP R&D and SG&A expenses are anticipated to range between $141 million and $147 million, including approximately $19 million in stock-based compensation expense, $9 million in amortization of acquired intangibles and $3 million in acquisition-related costs.\n\n\nCirrus Logic will host a live Q&A session at 5 p.m. EDT today to answer ...