Cirrus Logic Reports Fiscal Q2 2010 Financial Results

CIRRUS LOGIC, INC.
CONSOLIDATED CONDENSED BALANCE SHEET
(in thousands)
 
      Sep. 26,   Mar. 28,   Sep. 27,
2009 2009 2008
(unaudited) (unaudited)
ASSETS
Current assets
Cash and cash equivalents $ 20,692 $ 31,504 $ 55,566
Restricted investments 5,755 5,755 5,755
Marketable securities 62,191 79,346 48,565
Accounts receivable, net 26,160 10,814 25,556
Inventories 22,497 19,878 28,106
Other current assets   4,618     5,359     7,794  
Total Current Assets 141,913 152,656 171,342
 
Long-term marketable securities 35,391 3,627 -
Property and equipment, net 18,788 19,367 20,779
Intangibles, net 22,856 23,309 24,559
Goodwill 6,027 6,027 6,194
Other assets   1,925     2,018     2,301  
Total Assets $ 226,900   $ 207,004   $ 225,175  
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 20,758 $ 9,886 $ 17,620
Accrued salaries and benefits 6,873 6,432 7,552
Other accrued liabilities 4,894 6,004 8,657
Deferred income on shipments to distributors   3,728     3,426     7,751  
Total Current Liabilities 36,253 25,748 41,580
 
Long-term restructuring accrual 548 931 1,285
Other long-term obligations 7,265 7,397 7,093
 
Stockholders' equity:
Capital stock 948,371 945,455 942,853
Accumulated deficit (764,966 ) (771,951 ) (766,933 )
Accumulated other comprehensive loss   (571 )   (576 )   (703 )
Total Stockholders' Equity   182,834     172,928     175,217  
Total Liabilities and Stockholders' Equity $ 226,900   $ 207,004   $ 225,175  
 
Prepared in accordance with Generally Accepted Accounting Principles

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