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Mar 27, 2021
Cirrus Logic Q4 2021 Earnings Report
Cirrus Logic reported Q4 FY21 revenue of $293.5 million with content gains in high-performance mixed-signal expected to drive acceleration of revenue growth in FY22.
Key Takeaways
Cirrus Logic reported solid revenue, operating profit, and EPS growth in FY21, driven by content gains and higher unit volumes. Supply constraints had some impact on Q4 revenue results and Q1 outlook, but the company expects revenue growth to accelerate in FY22 with a pipeline of new components.
Q4 FY21 revenue was $293.5 million.
GAAP and non-GAAP gross margin were 50.5 percent.
GAAP earnings per share were $0.42 and non-GAAP earnings per share were $0.66.
Company expects revenue growth to accelerate in FY22.
Cirrus Logic
Cirrus Logic
Forward Guidance
For Q1 FY22, Cirrus Logic expects revenue to range between $240 million and $280 million, GAAP gross margin to be between 49 percent and 51 percent, and combined GAAP R&D and SG&A expenses to range between $120 million and $126 million.
Positive Outlook
- Revenue is expected to range between $240 million and $280 million.
- GAAP gross margin is forecasted to be between 49 percent and 51 percent.
Challenges Ahead
- Combined GAAP R&D and SG&A expenses are anticipated to range between $120 million and $126 million.
- Expenses include approximately $15 million in stock-based compensation expense and $3 million in amortization of acquired intangibles.