Cirrus Logic (CRUS) FY2016 results: revenue $1.2 billion, up 27.6% on the year
Cirrus Logic, Inc. (CRUS) reported revenue of $1.2 billion for fiscal 2016, the year ended 26 March 2016, up 27.6% on the year before. Net income was $124 million, up 124.1%, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 25 May 2016.
Revenue
$1.2 billion
+27.6% on the year
FY2010FY2016
Operating margin
15.4%
11.9% a year earlier
FY2010FY2016
Net income
$124 million
+124.1% on the year
FY2010FY2016
Diluted EPS
$1.87
+120.0% on the year
FY2010FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,169
917
714
+27.6%
Cost of revenue
614
491
358
+25.2%
Gross profit
555
426
356
+30.3%
Gross margin
47.5%
46.5%
49.9%
Research and development
269
198
126
+36.1%
Selling, general and administrative
117
99.5
74.9
+17.7%
Operating income
180
109
155
+65.7%
Operating margin
15.4%
11.9%
21.7%
Interest expense
3.3
5.6
n/a
-41.2%
Pre-tax income
176
91.5
156
+92.2%
Income tax
52.4
36.4
47.6
+44.0%
Effective tax rate
29.8%
39.7%
30.6%
Net income
124
55.2
108
+124.1%
Net margin
10.6%
6.0%
15.1%
Diluted EPS
$1.87
$0.85
$1.65
+120.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
149
163
228
-8.8%
Capital expenditure
41.6
32.3
15.1
+28.7%
Free cash flow
107
131
213
-18.1%
Free cash flow margin
9.2%
14.3%
29.8%
Cash from investing
20.2
-324
-220
Cash from financing
-76.9
n/a
n/a
Depreciation and amortisation
58.1
34.9
14.9
+66.6%
Share-based compensation
33.5
37.5
23.1
-10.8%
Buybacks
60.5
10.5
52.1
+474.4%
Diluted shares, weighted
66m
65m
66m
+1.2%
Shares outstanding at period end
63m
63m
62m
-0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
859
757
637
+13.6%
Debt
160
180
0.0
-11.1%
Other liabilities
162
212
87.4
-23.4%
Total liabilities and equity
1,182
1,149
725
+2.9%
Fixed assets
163
144
104
+12.7%
Goodwill
288
263
16.4
+9.3%
Intangible assets
163
176
12.0
-7.3%
Investments
81.2
184
353
-55.9%
Cash and equivalents
169
76.4
31.9
+120.9%
Receivables
88.5
113
63.2
-21.4%
Inventory
142
84.2
69.7
+68.7%
Other assets
88.3
108
75.3
-18.3%
Total assets
1,182
1,149
725
+2.9%
10-K for the year ended 26 March 2016, filed 25 May 2016: the filing.