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Technology Stocks : CRUS, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: grogger who wrote (5671)	4/22/1998 11:31:00 PM
From: DJBEINO	Respond to of 8193

Cirrus Logic Reverses Year-Ago Loss With 4th-Quarter Profit Dow Jones Online News Cirrus Logic Inc. - Fremont, Calif. 4th Quar March 28: 1998 1997 Sales a $287,844,000 $212,917,000 Net income a 12,149,000 (51,859,000) Avg shrs (basic) 68,092,000 65,917,000 Avg shrs (diluted) 69,241,000 65,917,000 Shr earns (basic) Net income .18 (.79) Shr earns (diluted) Net income a .18 (.79) Figures in parentheses are losses. a. Includes revenue related to certain licensing agreements totaling $60 million as well as charges of $53 million included in cost of sales which are related to anticipated manufacturing capacity variances attributed largely to reduced production in graphics chips. Excluding charges, net revenue would have been $227.8 million and net income would have been $9.2 million, or 13 cents a share. Six analysts surveyed by First Call had a mean earnings estimate of 11 cents a diluted share, excluding charges, for Cirrus Logic's latest quarter. Cirrus Logic (CRUS) said late Wednesday it ended the quarter with a cash balance of $473 million, up from $406 million a year ago. The increase is largely due to cash generated from operations, the company said. Cirrus Logic makes integrated circuits for personal computers. Copyright (c) 1998 Dow Jones & Company, Inc.