AUSTIN, Tex. -- Cirrus Logic Inc. today joined other chip suppliers indicating that the outlook for the first half of 2002 is slightly better than expected.
The fabless chip company said it now expects revenues to be "at or slightly above" the high end of its $81-to-$83 million revenue guidance in the March quarter.
Cirrus also said its pro-forma loss will be "in the favorable end" of a projected range of $0.11-to-$0.15 per share. Cirrus estimated that its gross margins will also be at the high end of a 44-to-46% guidance range.
"Design activity is strengthening and backlog continues to build," said David D. French, president and CEO of Austin-based Cirrus. "These and other indicators give us confidence in our ability to continue growing revenue, earnings and gross margin in the March and June quarters, which are historically softer due to seasonality."
Cirrus Logic posted revenues of $77 million in the prior quarter, ended Dec. 31. Excluding charges, its pro-forma loss was $15.1 million, or $0.19 per share. Including charges for restructuring and other items, Cirrus posted a net loss of $85.4 million for the last fiscal quarter.