Cirrus Logic Transitions Colorado Design Operations to Austin Headquarters.AUSTIN, Texas -- 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/. Inc. (Nasdaq:CRUS crus (krus) pl. cru´ra [L.] 1. leg (1). 2. a leglike part. crus ce´rebri ) today announced that it intends to close its Boulder, Colo., design center and transition those design activities to its Austin headquarters. Cirrus Logic expects to offer to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. approximately 16 out of 24 employee positions from Boulder to Austin. The Boulder design team provides analog and mixed-signal IC layout design services for audio and industrial applications. The transition is expected to be substantially complete in early November 2006. "By focusing our domestic product development activity in Austin, we believe that we can improve development execution timeliness and improve operational efficiency," said David D. French, president and chief executive officer, Cirrus Logic. "We expect to continue to invest aggressively in the industrial and audio product developments currently under way in Boulder in order to continue expansion of our growth opportunities." Cirrus Logic Inc. Cirrus Logic develops high-precision analog and mixed-signal integrated circuits A mixed-signal integrated circuit combines analog circuits with digital signal processing (DSP) circuits on a single semiconductor die. An integrated circuit that includes both analog and digital circuitry (but no DSP), like a 555 timer, is generally not considered a mixed-signal for a broad range of consumer and industrial markets. Building on its diverse analog mixed-signal patent portfolio, Cirrus Logic delivers highly optimized products for consumer and commercial audio, automotive entertainment and industrial applications. The company operates from headquarters in Austin, Texas, with offices in Colorado, Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Except for historical information contained herein, the matters set forth in this news release, including our anticipated timing of the closure of the Boulder, Colorado The City of Boulder (, Mountain Time Zone) is a home rule municipality located in Boulder County, Colorado, United States. Boulder is the 11th most populous city in the State of Colorado, as well as the most populous city and the county design center and our intent to continue to invest in the industrial and audio product developments currently underway in Boulder, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 from our current expectations, estimates and assumptions and the forward-looking statements made in this press release. These risks and uncertainties include, but are not limited to, the ability to achieve cost savings and efficiencies through consolidation; the timing and cost of the Company's design center closure, including without limitation the timing of cash expenditures; and our ability to transition the design activities currently in Boulder to our headquarters in Austin, Texas. Additional information regarding other risks, uncertainties, and other matters are set forth in the risk factors listed in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 25, 2006, and in our other filings with the Securities and Exchange Commission, which are available at www.sec.gov. |
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