February 5, 2018 / 9:06 PM / 4 months ago

BRIEF-Cirrus Logic Reports Q3 FY18 Revenue Of $482.7 Million

Feb 5 (Reuters) - Cirrus Logic Inc:

* CIRRUS LOGIC REPORTS Q3 FY18 REVENUE OF $482.7 MILLION

* Q3 NON-GAAP EARNINGS PER SHARE $1.59

* Q3 REVENUE $482.7 MILLION

* COMPANY ANNOUNCES A $200 MILLION SHARE REPURCHASE PROGRAM

* CIRRUS LOGIC- UNANTICIPATED WEAKNESS IN SMARTPHONE DEMAND THAT MATERIALIZED IN LATE DEC DROVE Q3 RESULTS BELOW EXPECTATIONS,FURTHER IMPACTED Q4 GUIDANCE

* ‍GAAP GROSS MARGIN IS EXPECTED TO BE BETWEEN 48 PERCENT AND 50 PERCENT FOR Q4​

* Q4 REVENUE IS EXPECTED TO RANGE BETWEEN $300 MILLION AND $340 MILLION

* CIRRUS LOGIC - SHARE REPURCHASES WILL BE FUNDED FROM WORKING CAPITAL, ANTICIPATED CASH FROM OPERATIONS

* FOR Q4, SEES COMBINED GAAP RESEARCH AND DEVELOPMENT AND SG&A EXPENSES ARE EXPECTED TO RANGE BETWEEN $130 MILLION AND $136 MILLION

* Q3 EARNINGS PER SHARE VIEW $1.69, REVENUE VIEW $529.4 MILLION — THOMSON REUTERS I/B/E/S

* Q4 REVENUE VIEW $372.1 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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