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Cirrus Logic Inc. Message Board

  • hayoobahoo hayoobahoo Oct 30, 2013 1:15 PM Flag

    THIS SELL OFF IS A JOKE!! THEY BEAT ON TOP AND BOTTOM LINE WITH 52% GROSS MARGINS!!!

    Revenue in the three months ended in September rose to $190.7 million, yielding EPS of 84 cents.

    Analysts had been modeling $181.7 million and 60 cents.

    Gross margin came in at 52%.

    CEO Jason Rhode called it a “great quarter,” citing strength in chips for portable audio. (Cirrus is a supplier to Apple (AAPL) for its iPhone and iPad.)

    Revenue this quarter is seen in a range of $200 million to $220 million, which would be above the consensus for $205 million.

    Gross margin is seen in a range of 45% to 47%.

    Cirrus management will host a conference call with analysts at 5 pm, Eastern time, this evening, and you can catch a webcast of it on the company’s investor relations Web site.

    Cirrus shares are up 83 cents, or almost 3%, at $25.25 now down 42 cents, or 1.7%, at $24.00.

    Sentiment: Strong Buy

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    • I held my nose and added...it was a solid beat!

      Sentiment: Strong Buy

    • I agree. Jason's guidance or comments previously were than margins in the future would be in the mid 40% range. Unless margins used to be in the 60% range and this is seen as a last hurrah, the selloff is overblown.

      Nevertheless what CRUS needs to do is develop new products and new markets.

      Intel (INTC) has backed out of its TV product, so that leaves only Apple to redo TV. May be there will be a CRUS audio play to Apple's product.

      Sentiment: Hold

    • A agree with you....the sell off is over done. I sold mine before earnings yesterday fearing a sell off.....but bought some back at 21.05 today. If we go lower, I would buy more. I've been trading CRUS for a long time and I'm comfortable with that position.

      Sentiment: Strong Buy

 
CRUS
33.66-0.03(-0.09%)Jul 2 4:00 PMEDT