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Cirrus Logic Inc. (CRUS) stock falls during after-hour. Here’s to know why?
Cirrus Logic Inc. (NASDAQ: CRUS) stock surged by 0.17% at last close whereas the CRUS stock price declines by 11.24% in the after-hours trading after Cirrus Logic announced its financial results for the fourth quarter and fiscal year 2021. Cirrus Logic is a pioneer in low-power, high-precision mixed-signal processing that enables cutting-edge customer experiences in the world’s most common mobile and consumer applications. Cirrus Logic, based in Austin, Texas, is known around the world for its award-winning corporate culture.
Financial Results
On April 29, 2021, Cirrus Logic has released its financial highlights for the fourth quarter and full fiscal year 2021 that ended on March 27, 2021. Given below is the summary:
Business insight for Q1 FY22
In the financial results Cirrus Logic has also provided its shareholders with estimate business progress for Fiscal year 2022.
John Forsyth, chief executive officer commented:
CRUS generated good sales, operating profit, and EPS growth in FY21, owing to both content and unit volume increases. CRUS has enhanced the prevalence of its audio solutions in smartphones, extended the range of end products comprising of audio and haptic components, and made substantial progress in expanding its mixed-signal product portfolio with main product launches in new areas over the last year.
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