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Cirrus Logic - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Cirrus Logic (ISIN: US1727551004, WKN: 877381) Kursdatum: 21.07.2017 Kurs: 63,340 USD
Beschreibung Daten
Symbol CRUS
Marktkapitalisierung 4.215.973.632,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Industriegüter
Rohdaten nach US GAAP in Millionen USD
Aktiensplits
Internet
Letztes Bilanz Update 24.05.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
13,24 11,40 0,00% 18,46 81,48 16,16 2,74 3,66

Firmenbeschreibung

 

 

18.      Quarterly Results (Unaudited)

 

 



 

 

The following quarterly results have been derived from our audited annual consolidated financial statements.  In the opinion of management, this unaudited quarterly information has been prepared on the same basis as the annual consolidated financial statements and includes all adjustments, including normal recurring adjustments, necessary for a fair presentation of this quarterly information.  This information should be read along with the financial statements and related notes.  The operating results for any quarter are not necessarily indicative of results to be expected for any future period. 

 

 



 

 

The unaudited quarterly statement of operations data for each quarter of fiscal years 2016 and 2015 were as follows (in thousands, except per share data):

 

 



 

 



 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

Fiscal Year 2016

 

 

 

 

 



 

 

 

1st

 

 

 

 

 

 

 

2nd

 

 

 

 

 

 

 

3rd

 

 

 

 

 

 

 

4th

 

 

 

 

 



 

 

 

Quarter

 

 

 

 

 

 

 

Quarter

 

 

 

 

 

 

 

Quarter

 

 

 

 

 

 

 

Quarter

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

 

$

 

282,633 

 

 

 

 

 

 

 

$

 

306,756 

 

 

 

 

 

 

 

$

 

347,863 

 

 

 

 

 

 

 

$

 

231,999 

 

 

 

 

 

Gross profit

 

 

 

 

 

132,454 

 

 

 

 

 

 

 

 

 

142,221 

 

 

 

 

 

 

 

 

 

164,911 

 

 

 

 

 

 

 

 

 

115,254 

 

 

 

 

 

Net income

 

 

 

 

 

33,354 

 

 

 

 

 

 

 

 

 

34,880 

 

 

 

 

 

 

 

 

 

41,384 

 

 

 

 

 

 

 

 

 

14,012 

 

 

 

 

 

Basic income per share

 

 

 

$

 

0.53 

 

 

 

 

 

 

 

$

 

0.55 

 

 

 

 

 

 

 

$

 

0.65 

 

 

 

 

 

 

 

$

 

0.22 

 

 

 

 

 

Diluted income per share

 

 

 

 

 

0.50 

 

 

 

 

 

 

 

 

 

0.53 

 

 

 

 

 

 

 

 

 

0.63 

 

 

 

 

 

 

 

 

 

0.21 

 

 

 

 



 

 



 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

Fiscal Year 2015

 

 

 

 

 



 

 

 

1st

 

 

 

 

 

 

 

2nd

 

 

 

 

 

 

 

3rd

 

 

 

 

 

 

 

4th

 

 

 

 

 



 

 

 

Quarter

 

 

 

 

 

 

 

Firmenstrategie

 

 

Principles of Consolidation

 

 



 

 

The accompanying consolidated financial statements have been prepared in accordance with U. S. generally accepted accounting principles (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries.  All significant intercompany balances and transactions have been eliminated.

 

 

 

RevenueRecognitionPolicyTextBlock

 

 

Revenue Recognition



We recognize revenue when all of the following criteria are met: persuasive evidence that an arrangement exists, delivery of goods has occurred, the sales price is fixed or determinable and collectability is reasonably assured.  For our distributors we provide minimal stock rotation rights.  Prior to the fourth quarter of fiscal year 2016, revenue was deferred at the time of shipment to our domestic distributors and certain international distributors due to the determination that the ultimate sales price to the distributor was not fixed or determinable.  Upon distributor resale, the final sales price was fixed or determinable, and the Company recognized revenue for the final sales price and recorded the related cost of sales.  Beginning in the fourth quarter of fiscal year 2016, revenue is recognized upon delivery to the distributor, as the final sales price is now fixed and determinable at the time of shipment, less an allowance for estimated returns.

 

 

SegmentReportingDisclosureTextBlock

 

 

17.      Segment Information



We determine our operating segments in accordance with Financial Accounting Standards Board (“FASB”) guidelines.  Our Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker under these guidelines. 



The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines, which currently are portable audio and non-portable audio and other.  Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources, rather than detailed information at a product line level.  Additionally, our product lines have similar characteristics and customers.  They share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology.  Therefore, there is no complete, discrete financial information maintained for these product lines.  Revenue from our product lines are as follows (in thousands): 





 

 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

Fiscal Years Ended

 
 



 
 

March 26,

 
 

 

 
 

March 28,

 
 

 

 
 

March 29,

 
 



 
 

2016

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

Portable Audio Products

 
 

$

 
989,101    

 

 
 

$

 
740,301    

 

 
 

$

 
562,718  
 

Non-Portable Audio and Other Products

 
 

 

 
180,150    

 

 
 

 

 
176,267    

 

 
 

 

 
151,620  
 



 
 

$

 
1,169,251    

 

 
 

$

 
916,568    

 

 
 

$

 
714,338  



Geographic Area



The following illustrates sales by geographic locations based on the sales office location (in thousands):



 

EarningsPerSharePolicyTextBlock

 

 

Net Income Per Share



Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of outstanding stock options and restricted stock grants.



The following table details the calculation of basic and diluted earnings per share for fiscal years 2016, 2015, and 2014, (in thousands, except per share amounts):



 

 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

Fiscal Years Ended

 
 



 
 

March 26,

 
 

 

 
 

March 28,

 
 

 

 
 

March 29,

 
 



 
 

2016

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

United States

 
 

$

 
73,889    

 

 
 

$

 
31,977    

 

 
 

$

 
35,582  
 

European Union (excluding United Kingdom)

 
 

 

 
12,745    

 

 
 

 

 
13,629    

 

 
 

 

 
13,125  
 

United Kingdom

 
 

 

 
5,687    

 

 
 

 

 
2,805    

 

 
 

 

 
1,513  
 

China

 
 

 

 
823,843    

 

 
 

 

 
728,413    

 

 
 

 

 
617,850  
 

Hong Kong

 
 

 

 
10,647    

 

 
 

 

 
15,087    

 

 
 

 

 
6,057  
 

Japan

 
 

 

 
27,898    

 

 
 

 

 
14,353    

 

 
 

 

 
5,150  
 

South Korea

 
 

 

 
193,388     
 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 



 
 

2016

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

Numerator:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Net income

 
 

$

 
123,630    

 

 
 

$

 
55,178    

 

 
 

$

 
108,111  
 

Denominator:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Weighted average shares outstanding

 
 

 

 
63,197    

 

 
 

 

 
62,503    

 

 
 

 

 
62,926  
 

Effect of dilutive securities

 
 

 

 
2,796    

 

 
 

 

 
2,732    

 

 
 

 

 
2,609  
 

Weighted average diluted shares

 
 

 

 
65,993    

 

 
 

 

 
65,235    

 

 
 

 

 
65,535  
 

Basic earnings per share

 
 

$

 
1.96    

 

 
 

$

 
0.88    

 

 
 

$

 
1.72  
 

Diluted earnings per share

 
 

$

 
1.87    

 

 
 

$

 
0.85    

 

 
 

$

 
1.65  

   

The weighted outstanding options excluded from our diluted calculation for the years ended March 26, 2016, March 28, 2015, and March 29, 2014 were 468 thousand, 718 thousand, and 833 thousand, respectively, as the exercise price exceeded the average market price during the period.