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Jun 27, 2020
Cirrus Logic Q1 2021 Earnings Report
Cirrus Logic's Q1 FY21 revenue reached $242.6 million, driven by strong demand for products in tablets and smartphones, and GAAP EPS was $0.30.
Key Takeaways
Cirrus Logic reported a revenue of $242.6 million for Q1 FY21, with GAAP earnings per share of $0.30 and non-GAAP earnings per share of $0.53. The company experienced strong demand for products shipping in tablets and smartphones. Design activity and new product development efforts were encouraging despite COVID-19 challenges.
Q1 FY21 revenue was $242.6 million.
GAAP gross margin was 52.6 percent.
GAAP earnings per share was $0.30.
Non-GAAP earnings per share was $0.53.
Forward Guidance
For the second quarter of fiscal year 2021, Cirrus Logic expects revenue to range between $290 million and $330 million, GAAP gross margin to be between 51 percent and 53 percent, and combined GAAP R&D and SG&A expenses to range between $114 million and $120 million, including approximately $15 million in stock-based compensation expense and $3 million in amortization of acquired intangibles.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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