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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (63369)	5/2/2002 1:43:21 AM
From: StanX Long	Read Replies (1) of 70976

Cirrus' Q1 sales up 9% over Q4; expects to become profitable by year's end Semiconductor Business News (05/01/02 18:41 p.m. EST) siliconstrategies.com AUSTIN, Tex. -- Cirrus Logic Inc. reported sales of $83.6 million for its fourth fiscal quarter ended March 30, up 9% from $77 million in the prior quarter but down 58.2% from $199.8 million a year ago. In accordance with generally accepted accounting principles (GAAP), fourth quarter net loss was $80.8 million, or minus $0.98 per share. Included in the GAAP loss was a non-cash charge of $73.3 million to reserve disputed magnetic storage receivables from Western Digital and Fujitsu Ltd. The company reported a loss of $85.4 million, or $1.08 a share, in the prior quarter and a profit of $4 million, or $0.05 a share, year ago. For the current quarter, Cirrus expects its sales will jump 5-6%, with a pro forma loss of $0.06-to-$0.10 per share. It expects to become profitable by the third quarter ended Dec. 31.

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