Cirrus Logic Reports Fiscal Q4 2008 Financial Results

CIRRUS LOGIC, INC.
CONSOLIDATED CONDENSED BALANCE SHEET
unaudited; in thousands
 
      Mar. 29,   Dec. 29,   Mar. 31,
2008 2007 2007
ASSETS
Current assets
Cash and cash equivalents $ 56,614 $ 69,288 $ 87,960
Restricted investments 5,755 5,755 5,755
Marketable securities 125,129 165,619 178,000
Accounts receivable, net 22,652 23,049 19,127
Inventories 22,464 20,030 16,496
Other current assets 10,041 13,974 13,699
Total Current Assets 242,655 297,715 321,037
 
Long-term marketable securities - 11,087 -
Property and equipment, net 20,961 19,850 11,407
Intangibles, net 26,044 30,666 8,550
Goodwill 6,194 12,655 6,461
Investment in Magnum Semiconductor - - 3,657
Other assets 2,452 2,239 1,948
Total Assets $ 298,306 $ 374,212 $ 353,060
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 16,164 $ 18,300 $ 10,434
Accrued salaries and benefits 7,085 6,812 7,816
Other accrued liabilities 18,081 8,144 10,519
Deferred income on shipments to distributors 6,584 5,874 4,290
Income taxes payable 76 (13) 1,561
Total Current Liabilities 47,990 39,117 34,620
 
Long-term restructuring accrual 1,818 1,886 3,418
Other long-term obligations 7,563 9,364 10,085
 
Stockholders' equity:
Capital stock 937,716 936,093 926,900
Accumulated deficit (696,557) (611,766) (621,180)
Accumulated other comprehensive loss (224) (482) (783)
Total Stockholders' Equity 240,935 323,845 304,937
Total Liabilities and Stockholders' Equity $ 298,306 $ 374,212 $ 353,060
 
Prepared in accordance with Generally Accepted Accounting Principles

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