CRUS FY 2019 Earnings Report — Cirrus Logic, Inc. Revenue & Financial Results | Market Cap Arena

Cirrus Logic, Inc.CRUS

FY 2019 Earnings

Reported May 24, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.5B	—	-22.6%
Op. Income	$101M	—	$262M	—	-61.6%
Gross Margin	50.4%	—	49.6%	—	0.8pp
Net Margin	7.6%	—	10.6%	—	-3.0pp
EPS (Diluted)	$1.46	—	$2.46	—	-40.7%
Free Cash Flow	$171M	—	$234M	—	-27.0%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$588M
GROSS PROFIT	$597M
R&D Expenses	$375M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$127M
Other Expenses	-$5M
Operating Expenses	$497M
Cost & Expenses	$1.1B
OPERATING INCOME	$101M
Interest Income	$8M
Interest Expense	$1M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$94M
Income Tax Expense	$4M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$80M
EBIT	$96M
EBITDA	$176M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$588M
GROSS PROFIT	$597M
R&D Expenses	$375M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$127M
Other Expenses	-$5M
Operating Expenses	$497M
Cost & Expenses	$1.1B
OPERATING INCOME	$101M
Interest Income	$8M
Interest Expense	$1M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$94M
Income Tax Expense	$4M
Net Income from Continuing Ops	$90M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$90M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$90M
D&A	$80M
EBIT	$96M
EBITDA	$176M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$90M
Depreciation & Amortization	$80M
Stock-Based Compensation	$50M
Deferred Income Tax	$2M
Other Non-Cash Items	$9M
Change in Working Capital	-$23M
OPERATING CASH FLOW	$207M
Capital Expenditure	-$36M
Acquisitions (Net)	-$4M
Purchases of Investments	-$99M
Sales/Maturities of Investments	$71M
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$55M
Net Debt Issuance	$0
Common Stock Repurchased	-$173M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$171M
FREE CASH FLOW	$171M
Net Change in Cash	-$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$216M
Short-Term Investments	$70M
Net Receivables	$121M
Inventory	$165M
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$625M
PP&E (Net)	$186M
Goodwill	$286M
Intangible Assets	$68M
Long-Term Investments	$159M
Tax Assets	$9M
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$728M
TOTAL ASSETS	$1.4B
Account Payables	$48M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$22M
TOTAL CURRENT LIABILITIES	$116M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$97M
TOTAL NON-CURRENT LIABILITIES	$97M
TOTAL LIABILITIES	$212M
Common Stock	$59.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	-$222M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$0
Net Debt	-$216M