Cirrus Logic Reports Record Revenue of $619.0 Million for Fiscal Third Quarter

Core Viewpoint - Cirrus Logic, Inc. reported record revenue and earnings per share for the third quarter of fiscal year 2024, highlighting strong customer engagement and advancements in product development and technology [2][3]. Financial Results - Revenue for Q3 FY24 reached $619.0 million, with a GAAP gross margin of 51.3% and a non-GAAP gross margin of 51.4% [3]. - GAAP operating expenses were $149.9 million, while non-GAAP operating expenses were $125.6 million [3]. - GAAP earnings per share stood at $2.50, and non-GAAP earnings per share were $2.89 [3]. - The cash and cash equivalents balance was $587.0 million [3]. Business Outlook - For Q4 FY24, revenue is projected to be between $290 million and $350 million, with a GAAP gross margin expected between 49% and 51% [4]. - Combined GAAP R&D and SG&A expenses are anticipated to range between $138 million and $144 million, leading to a non-GAAP operating expense range of $114 million to $120 million [4]. Company Overview - Cirrus Logic is recognized as a leader in low-power, high-precision mixed-signal processing solutions, catering to mobile and consumer applications globally [5].