Cirrus Logic (CRUS) FY2017 results: revenue $1.5 billion, up 31.6% on the year
Cirrus Logic, Inc. (CRUS) reported revenue of $1.5 billion for fiscal 2017, the year ended 25 March 2017, up 31.6% on the year before. Net income was $261 million, up 111.3%, and diluted earnings per share $3.92. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2019.
Revenue
$1.5 billion
+31.6% on the year
FY2010FY2017
Operating margin
20.6%
15.4% a year earlier
FY2010FY2017
Net income
$261 million
+111.3% on the year
FY2010FY2017
Diluted EPS
$3.92
+109.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,539
1,169
917
+31.6%
Cost of revenue
781
614
491
+27.1%
Gross profit
758
555
426
+36.6%
Gross margin
49.2%
47.5%
46.5%
Research and development
304
269
198
+12.8%
Selling, general and administrative
127
117
99.5
+8.7%
Operating income
317
180
109
+75.9%
Operating margin
20.6%
15.4%
11.9%
Interest expense
3.6
3.3
5.6
+8.8%
Pre-tax income
315
176
91.5
+79.0%
Income tax
53.8
52.4
36.4
+2.8%
Effective tax rate
17.1%
29.8%
39.7%
Net income
261
124
55.2
+111.3%
Net margin
17.0%
10.6%
6.0%
Diluted EPS
$3.92
$1.87
$0.85
+109.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
370
149
163
+148.1%
Capital expenditure
41.8
41.6
32.3
+0.7%
Free cash flow
328
107
131
+205.1%
Free cash flow margin
21.3%
9.2%
14.3%
Cash from investing
-69.9
20.2
-324
Cash from financing
-118
-76.9
n/a
Depreciation and amortisation
63.4
58.1
34.9
+9.3%
Share-based compensation
39.6
33.5
37.5
+18.2%
Buybacks
15.4
60.5
10.5
-74.5%
Diluted shares, weighted
67m
66m
65m
+0.9%
Shares outstanding at period end
64m
63m
63m
+2.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,152
859
757
+34.0%
Debt
60.0
160
180
-62.6%
Other liabilities
202
162
212
+24.6%
Total liabilities and equity
1,413
1,182
1,149
+19.6%
Fixed assets
168
163
144
+3.4%
Goodwill
287
288
263
-0.3%
Intangible assets
135
163
176
-17.0%
Investments
99.8
81.2
184
+22.9%
Cash and equivalents
351
169
76.4
+108.0%
Receivables
120
88.5
113
+35.5%
Inventory
168
142
84.2
+18.2%
Other assets
84.5
88.3
108
-4.3%
Total assets
1,413
1,182
1,149
+19.6%
10-K for the year ended 25 March 2017, filed 24 May 2019: the filing.