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Wednesday, Oct 31
2012, 4:21 PM
More on Cirrus Logic's FQ2: Though strong guidance was expected thanks to iPhone 5 and iPad Mini...
More on Cirrus Logic's FQ2: Though strong guidance was expected thanks to iPhone 5 and iPad Mini wins, its magnitude is still impressive. The numbers could indicate growing dollar content and/or spell good things for other Apple suppliers. FQ2 gross margin was 52%, down 200 bps Q/Q and at the low end of Cirrus' guidance range. FQ3 gross margin of 50%-52% expected. Audio product sales (92% of revenue) +113% Y/Y, energy products -11%. CC at 5PM ET (webcast). Shares halted. (PR) (shareholder letter - PDF)