Cirrus Logic Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cirrus Logic

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rory Holmes who wrote (50)	10/17/1996 3:01:00 PM
From:	of 53

SAN FRANCISCO, Oct 17 (Reuter) - Robertson Stephens & Co and UBS Securities said they slightly trimmed estimates of Cirrus Logic Corp's 1997 earnings following a disappointing second quarter report from the chip maker. Analyst Elias Moosa of Robertson said he trimmed his 1997 estimate to $0.09 a share from $0.15 a share previously. However, Moosa slightly raised his 1998 estimate to $1.35 a share from $1.33, citing cost cutting at Cirrus. UBS analyst Charles Boucher cut his 1997 estimate to $0.02 a share from $0.03 a share previously, his assistant said. Cirrus reported a second quarter operating loss. Shares of Cirrus were down 2-7/8 to 21-1/8 in heavy trading. Cirrus Logic's net earnings were reported as a profit of $0.05 a share or $2.99 million, but that was after a one-time gain of $6.9 million from selling an asset. Without the gain, Cirrus reported a loss which analysts calculate at $0.03 to $0.04 a share. Moosa said he was looking for breakeven results. "Their outlook is still unclear, they are on the way to recovery but they are not out of the woods yet," Moosa said. Boucher and Moosa cited disappointing gross margins too.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next