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Cirrus lowers forecast amid consumer-chip slowdown

Posted: 29 Sep 2004 ?? ?Print Version ?Bookmark and Share

Keywords:cirrus logic? consumer chip? dvd players? audio converters?

Following its workforce reduction plan, Cirrus Logic Inc. reduced its outlook for the second quarter.

The chip maker projects revenue of about $51 million to $52 million in the period. Sales of analog products are expected to account for 90 percent of sales, while chips used in video recording applications are expected to contribute about 10 percent.

On July 21, Cirrus Logic said that it expected revenue of $61 million to $68 million for the period. Last month, the company said it would reduce its workforce by 7 percent and will incur a $1.5 million restructuring charge in its second fiscal 2005 quarter ending in September (see July 1 story).

"The September quarter results have been impacted by lower demand for consumer ICs," said David D. French, president and CEO of Cirrus Logic, in a statement. "We believe this is due in part to an industry-wide inventory correction within the supply chain, particularly for DVD players, which incorporate our audio converters."

- Silicon Strategies

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