Smartphone Volumes Drive Cyrus Logic Revenue Above Expectations

Cirrus Logic, Inc. (Nasdaq:CRUS) has posted on its website at http://investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the third quarter fiscal year 2020, which ended Dec. 28, 2019, as well as the company´s current business outlook, the company said.

The company reported:
Revenue of USD 374.7 million;
GAAP and non-GAAP gross margin are 52.7 percent and 52.8, respectively;
GAAP operating expenses of USD 124.8 million and non-GAAP operating expenses of USD 103.2 million; and
GAAP earnings per share of USD 1.13 and non-GAAP earnings per share of USD 1.41.

Cirrus Logic is a provider of low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world´s top mobile and consumer applications. With headquarters in Austin, Texas, Cirrus Logic is on the web at www.cirrus.com.