John,
There was no lawsuit....only the threat of one if SIII didn't somehow compensate Cirrus for the use of proprietary info. Apparently, this is the compensation. Intel has probably done the same, though hopefully, for more bucks! :-) I haven't looked in detail at the agreement, but I think that the $40 million lets SIII use the patented material(logic?; chip design?; ???). Maybe someone else knows if royalties are involved, but if they are, Cirrus is on the getting end, not SIII.
I didn't listen to the previous CC, but many said there was a lot of hem-hawing and dodging. I listened to some of this one and both Terry and Walter seemed very forthcoming. The only areas of nebulousness was in terms of the new product(s) ramping up in 2Q. And I, for one, was glad that they were playing it close to the vest. I skipped over most of the financial aspects, as I was pressed for time. I don't know if they were confronted with the insider selling or not, but it would have been interesting to hear the response. Most of the analysts seemed satisfied with the responses to their questions, but again I didn't listen to all of the financial portion. I have good feelings about where they are headed. Like many have iterated...and re-iterated here, we probably won't see much over 10 before the end of 2Q.
JP
"Onward", George, and it looks like a good chance for upWARD. |
