CRUS FY 2014 Earnings Report — Cirrus Logic, Inc. Revenue & Financial Results | Market Cap Arena

Cirrus Logic, Inc.CRUS

FY 2014 Earnings

Reported May 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$714M	—	$810M	—	-11.8%
Op. Income	$155M	—	$201M	—	-22.8%
Gross Margin	49.9%	—	48.8%	—	1.1pp
Net Margin	15.1%	—	16.9%	—	-1.7pp
EPS (Diluted)	$1.65	—	$2.00	—	-17.5%
Free Cash Flow	$213M	—	$108M	—	97.3%

Revenue Flow

Item	Amount
REVENUE	$714M
Cost of Revenue	$358M
GROSS PROFIT	$356M
R&D Expenses	$126M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$75M
Other Expenses	$97.0K
Operating Expenses	$201M
Cost & Expenses	$559M
OPERATING INCOME	$155M
Interest Income	$848.0K
Interest Expense	$0
Other Income/Expenses	$721.0K
INCOME BEFORE TAX	$156M
Income Tax Expense	$48M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$15M
EBIT	$155M
EBITDA	$170M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$714M
Cost of Revenue	$358M
GROSS PROFIT	$356M
R&D Expenses	$126M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$75M
Other Expenses	$97.0K
Operating Expenses	$201M
Cost & Expenses	$559M
OPERATING INCOME	$155M
Interest Income	$848.0K
Interest Expense	$0
Other Income/Expenses	$721.0K
INCOME BEFORE TAX	$156M
Income Tax Expense	$48M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$108M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$108M
D&A	$15M
EBIT	$155M
EBITDA	$170M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$108M
Depreciation & Amortization	$15M
Stock-Based Compensation	$23M
Deferred Income Tax	$36M
Other Non-Cash Items	-$2M
Change in Working Capital	$48M
OPERATING CASH FLOW	$228M
Capital Expenditure	-$15M
Acquisitions (Net)	-$20M
Purchases of Investments	-$322M
Sales/Maturities of Investments	$139M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$220M
Net Debt Issuance	$0
Common Stock Repurchased	-$56M
Common Dividends Paid	$0
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$42M
FREE CASH FLOW	$213M
Net Change in Cash	-$35M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$263M
Net Receivables	$63M
Inventory	$70M
Other Current Assets	$32M
TOTAL CURRENT ASSETS	$475M
PP&E (Net)	$104M
Goodwill	$16M
Intangible Assets	$12M
Long-Term Investments	$89M
Tax Assets	$25M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$249M
TOTAL ASSETS	$725M
Account Payables	$52M
Short-Term Debt	$0
Deferred Revenue	$6M
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$83M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$5M
TOTAL LIABILITIES	$87M
Common Stock	$62.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	-$441M
Treasury Stock	$0
Accum. Other Comp. Income	-$886.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$637M
Minority Interest	$0
TOTAL EQUITY	$637M
TOTAL LIABILITIES & EQUITY	$725M
Total Debt	$0
Net Debt	-$32M