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Cirrus Logic Inc. Message Board

  • colie_44875 colie_44875 Apr 17, 2013 10:10 PM Flag

    Why Pre-announce?

    I still don't get why Cirrus reported last night ahead of Apple. They didn't have to, them were within their guided revenue. Also didn't give any guidance for this qtr, in last cc. Anyone have ideas?

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    • they reported because they new it would be ugly. A sort of, "get it over with" strategy. Anticipation can turn to fear very quickly and the drop could have been much worse had they waited until earnings day. For the time being, this thing is about as positively correlated with AAPL as any stock could ever be. If AAPL misses, CRUS will drop. Conversely, if AAPL beats, CRUS will soar. Stay tuned.

    • They were required to pre-announce the material item -- $20+ million inventory reserve ....

      Not the $207 million which fell within their guidance range $200- $220 that analyst adv est @$210 for the March qtr.

      Sentiment: Hold

    • I suppose, there might be more of a bad news to come. Unfortunately things do not look very good for APPL and frankly I think, that Appl is heading lower and so is Crus. By now one has to finally admit; the competition became force to be reckoned with in both phones and tablets. The signal to sell was when APPL started to sue Samsung ( someone wrote :" it was a sign of desperation" that was correct.
      Even in Dec. I would never guess that Crus will hit $17; I thought $39 was way too low! I bailed out at $33, $28 and whatever small portion that was left I sold at $24. I had a bundle, but I am happy to walk away with my wallet in tact.

    • My guess is that they want to talk about some very positive things that the guidance would be in way. Now the bad news is out and will be older news. The good news will be listened to. I have been watching their job openings and pitting those openings with the statements. They have some business coming with new customers. I think wanted to get this news so they could talk with a listening audience .

      MHO,

      Grade Zero

      • 3 Replies to gr0operator
      • That makes a lot more sense than wanting to spread bad news over 2 announcements.

      • Last year at the April conference call, CRUS gave a slightly dissappointing guidance for the June qtr. of 100 million in revenue. Wow, and now they give a guidance for this June of 150-170 million beacause of a temporary adjustment, and investors think the company is going out of business. Also,at last year's April report, Jason Rhode stated that FY13 growth should be ahead of estimates because of second half growth. Wonder if Jason will say much about FY14 estimates next Thursday?

        Sentiment: Strong Buy

      • That makes sense. Although I don't think Apple could be too pleased. I have said though now matter what they report, they can help themselves merely by increasing dividend. New customers, and new Apple devices in July-Sept. We could move up pretty nicely if Jason gives some details in cc. Otherwise will have to wait until new customers release their product. I just hope we can bring down the total of Apple business to say 60% without loosing any business with them and increasing business with competitor and in other sectors. You would think with all the Gas/Shale Oil drilling that siesmic should be growing. I would also think with buyback we should be approaching about 60 million shares outstanding, Although when management gives themselves 6 million options per qtr. we really aren't making any progress on outstanding shares. Options are greater than buyback. ridiculous based on stock price decline and lowered guidance. I have no problem when they execute and share price goes up, but when it goes down, there shouldn't be this much granted.

 
CRUS
36.10-0.33(-0.91%)Apr 29 4:00 PMEDT