** CRUS ** Good R/R here on good news of increased guidance especially after its recent drop the last few days. Digital electronic sales are doing well this holiday season as people seek to improve living at home, so-called "cocooning".
I took a position today based on this report:
Cirrus Logic Expects December Quarter Revenue at/or Slightly Above High End of Guidance Range
FRIDAY, DECEMBER 21, 2001 5:00 AM
- BusinessWire
Cirrus Logic Expects December Quarter Revenue at/or Slightly Above High End of Guidance Range
12/21/2001 5:00:00 AM
AUSTIN, Texas, Dec 21, 2001 (BUSINESS WIRE) -- Cirrus Logic Inc., (CRUS) the premier supplier of high-performance analog and DSP semiconductor solutions for digital entertainment electronics, said today that revenue for its fiscal third quarter of 2002, ending Dec. 29, 2001, will be at or slightly above the high end of the company's revenue guidance and that its pro forma loss per share is expected to be in the favorable end of its loss per share guidance given on the company's Oct. 24, 2001 conference call.
The company said that the increased revenue is due to better than expected turns business.
"We remain very confident that our focus on the digital entertainment industry is the right strategy and that this is the segment that will drive the semiconductor industry's next up cycle," said David D. French, president and CEO of Cirrus Logic.
Cirrus will announce its final fiscal third quarter results in a conference call on Jan. 24, 2002. |
