Cirrus Logic Reports Fiscal Third Quarter Revenue of $95.6 Million, Up 47 Percent Year-Over-Year

 
CIRRUS LOGIC, INC.
CONSOLIDATED CONDENSED BALANCE SHEET
(in thousands)
 
  Dec. 25,   Mar. 27,   Dec. 26,
2010 2010 2009
(unaudited) (unaudited)
ASSETS
Current assets
Cash and cash equivalents $ 28,491 $ 16,109 $ 24,831
Restricted investments 5,755 5,855 5,755
Marketable securities 156,052 85,384 77,636
Accounts receivable, net 37,266 23,963 25,131
Inventories 40,196 35,396 30,408
Other current assets   22,612     18,148     6,318  
Total Current Assets 290,372 184,855 170,079
 
Long-term marketable securities - 34,278 25,235
Property and equipment, net 32,919 18,674 18,499
Intangibles, net 20,688 21,896 22,654
Goodwill 6,027 6,027 6,027
Other assets   1,978     1,880     1,906  
Total Assets $ 351,984   $ 267,610   $ 244,400  
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 25,371 $ 20,340 $ 25,172
Accrued salaries and benefits 9,509 9,962 7,609
Other accrued liabilities 5,034 5,100 5,047
Deferred income on shipments to distributors   7,108     6,488     4,033  

Total Current Liabilities

47,022 41,890 41,861
 
Long-term restructuring accrual 179 596 492
Other long-term obligations 6,113 6,523 6,555
 
Stockholders' equity:
Capital stock 982,610 952,803 950,023
Accumulated deficit (683,220 ) (733,553 ) (753,911 )
Accumulated other comprehensive loss   (720 )   (649 )   (620 )
Total Stockholders' Equity   298,670     218,601     195,492  
Total Liabilities and Stockholders' Equity $ 351,984   $ 267,610   $ 244,400  
 
Prepared in accordance with Generally Accepted Accounting Principles

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