-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J5p9MDP6WiH+XSReyt71eEF2qwhjOcvYce8S3SgE1Ha0G4z6dNIahCZqNhJfPZSQ RFhfP+2nMqdax/4nCWTAXw== 0001157523-10-001937.txt : 20100407 0001157523-10-001937.hdr.sgml : 20100407 20100407080123 ACCESSION NUMBER: 0001157523-10-001937 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100407 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100407 DATE AS OF CHANGE: 20100407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIRRUS LOGIC INC CENTRAL INDEX KEY: 0000772406 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 770024818 STATE OF INCORPORATION: DE FISCAL YEAR END: 0330 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17795 FILM NUMBER: 10735713 BUSINESS ADDRESS: STREET 1: 2901 VIA FORTUNA CITY: AUSTIN STATE: TX ZIP: 78746 BUSINESS PHONE: 512-851-4000 MAIL ADDRESS: STREET 1: 2901 VIA FORTUNA CITY: AUSTIN STATE: TX ZIP: 78746 8-K 1 a6239504.htm CIRRUS LOGIC, INC. 8-K


SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


______________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported):        April 7, 2010


 

CIRRUS LOGIC, INC.

(Exact name of Registrant as specified in its charter)



Delaware

 

0-17795

 

77-0024818

(State or Other Jurisdiction of

Incorporation or Organization)

(Commission

File Number)

(IRS Employer

Identification No.)


2901 Via Fortuna, Austin, TX

 

78746

(Address of Principal Executive Offices) (Zip Code)


Registrant’s telephone number, including area code:   (512) 851-4000


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 2.02     Results of Operations and Financial Condition.

On April 7, 2010, the Company issued a press release announcing preliminary fourth quarter fiscal year 2010 results. The full text of the press release is attached as Exhibit No. 99.1 to this Current Report on Form 8-K.  The press release contains forward-looking statements regarding the Company and cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

The information contained in Items 2.02 and 9.01 in this Current Report on Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.


Item 9.01     Financial Statements and Exhibits.

  (d)          Exhibits

 

Exhibit

Description

 
Exhibit 99.1 Cirrus Logic, Inc. press release dated April 7, 2010

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

CIRRUS LOGIC, INC.

 

 

Date:

April 7, 2010

By:

/s/ Thurman K. Case

 

Name: Thurman K. Case

 

Title:  Chief Financial Officer


EXHIBIT INDEX

Exhibit No.

Description

 

99.1

Registrant’s press release dated April 7, 2010.


EX-99.1 2 a6239504-ex991.htm EXHIBIT 99.1

Exhibit 99.1

Cirrus Logic Announces Preliminary Q4 Revenue Increases 87 Percent Year-Over-Year to $62.6 Million

Earnings Conference Call Set for April 27

AUSTIN, Texas--(BUSINESS WIRE)--April 7, 2010--Cirrus Logic Inc. (Nasdaq: CRUS) today announced estimated net revenue based on preliminary financial results for the fourth fiscal quarter, which ended on March 27, 2010, to be up 87 percent year-over-year to approximately $62.6 million, an increase from the previous guidance of $55 million to $59 million. Revenue from audio products is estimated at $40.5 million and revenue from energy products is expected to be approximately $22.1 million.

The company estimates gross margin to be between 56 percent and 57 percent. Combined R&D and SG&A expenses are estimated to be approximately $26.4 million and include an estimated $1.6 million in share-based compensation and amortization of acquisition-related intangible expenses.

“Our year-over-year fourth quarter revenue growth of 87 percent exceeded our expectations and sets the stage for what we expect will be another strong year for Cirrus Logic,” said Jason Rhode, president and chief executive officer of Cirrus Logic. “We look forward to sharing our full results and guidance on our upcoming earnings call.”

Cirrus Logic will hold its quarterly conference call to discuss fourth quarter, fiscal year 2010 financial results on Tuesday, April 27, 2010 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 480-629-9723, or toll-free at 877-941-2333 (Conference ID: 4281912) by 10:20 a.m. on April 27, 2010. A replay of the conference call will be available beginning one hour following the completion of the call, until May 4, 2010. To access the recording, dial 303-590-3030, or toll-free at 800-406-7325 (Conference ID: 4281912). Additionally, the conference call will be webcast live through the Investor Relations page of the company’s website at www.cirrus.com. Shareholders who would like to submit a question to be addressed during the call are requested to submit the question to investor.relations@cirrus.com.

Cirrus Logic, Inc.

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 fourth 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,” “intend,” and variations of these types of words and similar expressions. 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, 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.

CONTACT:
Cirrus Logic, Inc.
Thurman K. Case, 512-851-4125
Chief Financial Officer
InvestorRelations@cirrus.com

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