Cirrus Reiterates September Quarter Guidance.Business Editors & High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Aug. 28, 2002 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 ) reiterated its outlook for the second quarter fiscal 2003, ending Sept. 28, 2002, at the SoundView Semiconductor Conference yesterday. The company expects revenue to be comparable to first quarter revenues of $76 million, pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma loss per share to be $0.06 to $0.10, pro forma gross margins to be 47 to 49 percent, and pro forma operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. to be $43 million to $45 million. The company also reiterated that recent reports of a softening in consumer confidence indicate that a conservative outlook for the U.S. economy in the upcoming Christmas season remains appropriate. A webcast of Cirrus' presentation at the SoundView Conference is available at www.cirrus.com, and will be accessible for 30 days. Upcoming Conference Events Cirrus Logic will be presenting at the Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Tech 2002 Industry Conference in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of at 9:30 a.m. on Wednesday, Sept. 4, and at the SG Cowen Fall Technology Conference in Boston at 8:00 a.m. Thursday, Sept. 5. David French David French was born in 1939. When David was six years old he moved to Toronto from Coley’s Point Newfoundland. During his young school years David was a sport fanatic, he did not enjoy the academic side of school. , president and chief executive officer, and Steve Overly, chief financial officer, will be speaking. A live and archived webcast of the presentations will be available on the Web at www.cirrus.com. About Cirrus Logic Cirrus Logic is a premier supplier of high-performance analog and DSP (1) (Digital Signal Processor) A special-purpose CPU used for digital signal processing applications (see definition #2 below). It provides ultra-fast instruction sequences, such as shift and add, and multiply and add, which are commonly used in math-intensive chip solutions for consumer entertainment electronics that allow people to see, hear, connect, and enjoy digital entertainment. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets mainstream audio, video and Internet entertainment applications in the consumer entertainment market. Cirrus Logic operates from headquarters in Austin, Texas with offices in California, Colorado, 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, including our estimates of second fiscal quarter revenues, pro forma loss per share, operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. levels, and gross margin levels, are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as overall conditions in the semiconductor market; the expansion of the consumer digital entertainment electronics market; the ability of the Company to successfully integrate its acquisitions into its operations and realize the anticipated synergies; the ability of the Company to introduce new products on a timely basis and to deliver products that perform as anticipated; risks associated with international sales and international operations; customer cancellations of orders, or the failure to place orders consistent with forecasts; the successful resolution of the Company's litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. with Western Digital and Fujitsu; rival chip architectures; pricing pressures; hardware or software deficiencies; a shortage of manufacturing capacity; the ability of the Company to make continued substantial investments in research and development; final determination of appropriate inventory write-downs based on the outlook at the end of each quarter; actual operational spending; the retention of key employees; and the risk factors listed in the company's 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 30, 2002, 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, except as required by law. Cirrus Logic is a trademark of Cirrus Logic Inc. |
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