Press ReleaseSource: Cirrus Logic, Inc.Cirrus Logic Revises Revenue Outlook for the Third Quarter of Fiscal 2009Wednesday December 3, 4:05 pm ET
AUSTIN, Texas--(BUSINESS WIRE)--Cirrus Logic Inc. (Nasdaq:CRUS - News), a leader in high-precision analog and digital-signal processing components, today announced that the company now expects revenue for the third quarter of fiscal 2009 to range from $42 million to $45 million, or down 8 percent to 14 percent from the previous year.
“Our revenue outlook for the current quarter declined substantially during November as manufacturers and distributors sharply curtailed orders, as they appear to be taking a conservative approach in light of current economic conditions,” said Jason Rhode, president and chief executive officer. “However, our design-in activity remains strong and our new product introductions continue to be well received by our customers. We remain confident that our strategy is solid, and with our strong financial position we will continue to manage the company for long-term success in these difficult times.”
In-line with previous expectations, gross margin is expected to be between 54 percent and 56 percent and combined R&D and SG&A expenses are expected to range between $22 million and $24 million, which include approximately $2 million in share-based compensation and amortization of acquisition-related intangibles expenses.