60,000. 50,000. 40,000. 30,000. 20,000. 10,000. -. Q1'08. Q2'08. Q3'08. Q4'08. Q1'09. Q2'09. Q3'09. Q4'09. Q1'10. Q2'10. = Audio. = Energy. Business Description
Celebrating its 25th anniversary in 2009, Cirrus Logic Inc. (Nasdaq: CRUS) is a fabless analog and mixed-signal semiconductor company focused on being the first-choice provider of high performance analog and digital signal processing semiconductors for various audio and energy markets.
Cirrus Logic’s audio products include data converters, Class D amplification products, audio processors and interface circuits that are used in a wide variety of consumer, portable, professional and automotive audio applications. Energy products include ICs designed for a variety of energy control, utility metering, high power, precision measurement and energy exploration.
Cirrus Logic is focused on delivering near term revenue growth driven by our portable audio products. Revenue has grown from $0 in 2006 to just over $30 million in 2008, as we have achieved design wins at tier 1 consumer companies and captured significant market share. Customers have adopted Cirrus Logic portable audio ICs due to their innovations such as improved battery life, reduction in board space and decreased cost structure.
Long term revenue growth is expected to be achieved by applying our mixed-signal expertise to the energy control market, with a current focus on power factor correction applications. These innovative products will focus on reduction in board space and passive components and higher efficiency.
Select Management Bios
President & CEO - Jason Rhode, Ph.D. was named President and Chief Executive Officer in May 2007. Previously, Dr. Rhode served as vice president and general manager of Cirrus Logic's Mixed Signal Audio Division, where he oversaw the revitalization of Cirrus Logic's strong portfolio of analog and mixed-signal converter ICs for consumer and professional audio markets.
CFO - Thurman Case was appointed Chief Financial Officer in February 2007. Mr. Case joined Cirrus Logic in 2000 and has served in key executive financial management positions. Mr. Case holds a bachelor of economics degree and an MBA from New Mexico State University.
Audio Products - Scott Anderson, Sr. Vice President and General Manager of the Mixed-Signal Audio Division, joined the company in October 2007. Previously, Mr. Anderson served as president and COO of Freescale Semiconductor
Energy Products - Tom Stein, was named Vice President and General Manager of the EXL Division in September 2008. Mr. Stein is a long-time Cirrus Logic employee, and has held various key leadership positions in the sales and marketing divisions.
Headquarters Austin Texas
Year Incorporated 1984
52-Week Range $2.16 - $6.12
Price, Sept 25, 2009 $5.53
Market Capitalization $361 million
Common Shares Outstanding 65.2 million
Cash, as of June 27th $122 million
Fiscal Year End March 27, 2010
Revenue, FY2009 $175 million
Portable Audio Revenue (Goals/ Actual)
Quarterly Revenue – FY08, FY09, FY10
YTD Stock Performance – 10/1/09
Thurman Case Jeremy Allen
Chief Financial Officer Investor Relations Director
2901 Via Fortuna 2901 Via Fortuna
Austin, Texas 78746 Austin, Texas 78746
(512) 851-4000 (512) 851-4041