Cirrus Logic, Inc. Reports Earnings Results for the Fourth Quarter Ended March 30, 2024
May 07, 2024 at 04:01 pm EDT
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Cirrus Logic, Inc. reported earnings results for the fourth quarter ended March 30, 2024. For the fourth quarter, the company reported revenue was USD 371.83 million compared to USD 372.82 million a year ago. Net income was USD 44.84 million compared to net loss of USD 53.67 million a year ago.
Basic earnings per share from continuing operations was USD 0.83 compared to basic loss per share from continuing operations of USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 0.81 compared to diluted loss per share from continuing operations of USD 0.97 a year ago.
Cirrus Logic, Inc. is engaged in low-power, high-precision mixed-signal processing solutions. The Company's product line categories are Audio and High-Performance Mixed-Signal (HPMS). It is a supplier of low-power, low-latency, high-precision audio components that are used in a variety of applications, including smartphones, tablets, laptops, virtual reality/augmented reality headsets, home theater systems, automotive entertainment systems and professional audio systems. Its Audio Products include boosted amplifiers, codecs, smart codecs, analog-to-digital converters, digital-to-analog converters, and standalone digital signal processors. The Companyâs HPMS Products include camera controllers, haptics and sensing solutions, battery, and power integrated circuits (ICs). Additionally, the Companyâs SoundClear technology consists of a broad portfolio of tools, software and algorithms that help to differentiate its customersâ products by improving the user experience.