Cirrus Logic Customer Reduces Demand.FREMONT, Calif.--(BUSINESS WIRE)--Nov. 7, 1995--Cirrus Logic, Inc. (Nasdaq: CRUS crus (krus) pl. cru´ra [L.] 1. leg (1). 2. a leglike part. crus ce´rebri ) announced today that a major customer has advised the company that the customer is reducing orders for certain graphics and audio chips, as a result of the customer's forecasted demand and the current inventories of Cirrus Logic (company) Cirrus Logic - A manufacturer of integrated circuits including the Advanced RISC Machine and display interface processors and cards for use as Windows accelerators (requiring dedicated driver software). http://cirrus.com/. products held by that customer and its subcontractors. This is expected to reduce the rate of revenue growth for the current quarter ending December 30, 1995, and reduce operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. by approximately 10-to-15 percent compared with the prior quarter ended September 30, 1995. On October 23, 1995, Cirrus Logic announced record levels of revenues and operating profits for the quarter ended September 30, 1995. In conjunction with that earnings report, the company announced a plan to invest $2 billion to expand its manufacturing infrastructure over the next five years. Today's announcement does not impact the company's commitments in this phased expansion. CONTACT: Cirrus Logic Mark Singer, 510/623-8300 (Director, IR) Sam (1) (Security Accounts Manager) The part of Windows NT that manages the database of usernames, passwords and permissions. A SAM resides in each server as well as in each domain controller. See PDC and trust relationship. Srinivasan, 510/623-8300 (Sr. VP, CFO See Chief Financial Officer. ) |
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