Cirrus Logic (CRUS) FY2015 results: revenue $917 million, up 28.3% on the year
Cirrus Logic, Inc. (CRUS) reported revenue of $917 million for fiscal 2015, the year ended 28 March 2015, up 28.3% on the year before. Net income was $55 million, down 49.0%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 27 May 2015.
Revenue
$917 million
+28.3% on the year
FY2010FY2015
Operating margin
11.9%
21.7% a year earlier
FY2010FY2015
Net income
$55 million
-49.0% on the year
FY2010FY2015
Diluted EPS
$0.85
-48.5% on the year
FY2010FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
917
714
810
+28.3%
Cost of revenue
491
358
415
+37.0%
Gross profit
426
356
395
+19.5%
Gross margin
46.5%
49.9%
48.8%
Research and development
198
126
114
+56.8%
Selling, general and administrative
99.5
74.9
77.0
+32.9%
Operating income
109
155
201
-29.8%
Operating margin
11.9%
21.7%
24.8%
Interest expense
5.6
n/a
n/a
Pre-tax income
91.5
156
201
-41.2%
Income tax
36.4
47.6
64.6
-23.6%
Effective tax rate
39.7%
30.6%
32.1%
Net income
55.2
108
137
-49.0%
Net margin
6.0%
15.1%
16.9%
Diluted EPS
$0.85
$1.65
$2.00
-48.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
163
228
161
-28.3%
Capital expenditure
32.3
15.1
52.9
+114.6%
Free cash flow
131
213
108
-38.4%
Free cash flow margin
14.3%
29.8%
13.3%
Cash from investing
-324
-220
-84.8
Cash from financing
n/a
n/a
-75.6
Depreciation and amortisation
34.9
14.9
13.6
+134.2%
Share-based compensation
37.5
23.1
21.5
+62.7%
Buybacks
10.5
52.1
86.1
-79.8%
Diluted shares, weighted
65m
66m
68m
-0.5%
Shares outstanding at period end
63m
62m
63m
+1.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
757
637
548
+18.7%
Debt
180
0.0
n/a
Other liabilities
212
87.4
103
+142.1%
Total liabilities and equity
1,149
725
651
+58.5%
Fixed assets
144
104
101
+39.3%
Goodwill
263
16.4
6.0
+1,507.6%
Intangible assets
176
12.0
n/a
+1,364.6%
Investments
184
353
170
-47.7%
Cash and equivalents
76.4
31.9
66.4
+139.9%
Receivables
113
63.2
69.3
+78.1%
Inventory
84.2
69.7
119
+20.7%
Other assets
108
75.3
120
+43.6%
Total assets
1,149
725
651
+58.5%
10-K for the year ended 28 March 2015, filed 27 May 2015: the filing.