Cirrus Logic Reiterates Q3 and Fiscal Year 2001 Guidance.

Business Editors & High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--Nov. 30, 2000

Cirrus Logic Inc. (Nasdaq:CRUS), a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics, today reiterated the Q3/Q4 and fiscal year 2001 financial guidance it gave on its fiscal Q2 conference call on Oct. 18, 2000.

David D. French, president and chief executive officer of Cirrus Logic, said, "I am pleased that we are progressing as planned toward our previously announced, upgraded business model." The guidance figures and financial model are as follows:

-- For each of the next two fiscal quarters (Fiscal 3Q01 and 4Q01), core
revenues are expected to grow at or above the 10 percent growth rate
experienced in the second quarter ended Sept. 23, 2000. For fiscal 2001,
revenues from the core businesses are expected to grow in excess of 50 percent
for the year.

-- Pro forma earnings per share for fiscal 3Q01 (ending Dec. 30, 2000) are
expected to be $0.25 to $0.27. For Fiscal 2001 (ending March 31, 2001), pro
forma earnings per share are expected to be $0.90 to $0.94.

The company's business model was revised upward on its Oct. 18 conference call:

-- Gross margins: In the 44 - 46 percent range

-- Research and Development: In the 14 - 16 percent range

-- Sales, General and Administrative: In the 10 - 12 percent

range

-- Operating Profit: In the 16 - 18 percent range

The company also reiterated this guidance in a press release at its annual investor day on Nov. 9, 2000.

About Cirrus Logic

Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets high-volume audio, storage and communications applications. Cirrus Logic sells its products under the Crystal (R), Maverick(tm), and 3Ci(tm) brands as well as its own name. Founded in 1984 in Silicon Valley, Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont, Calif. and Broomfield, Colo. as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com.

Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as overall conditions in the semiconductor market, customer cancellations of orders, or the failure to place orders consistent with forecasts, unforeseen manufacturing difficulties, or hardware or software deficiencies, or delays in customer qualification of key new products, achieving high utilization of the company's manufacturing resources, final determination of appropriate inventory write-downs based on the outlook at the end of each quarter, actual operational spending, obtaining financing sufficient to meet the company's needs and the risk factors listed in the company's Form 10-K for the year ended March 25, 2000, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic's business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.