=Cirrus Logic (CRUS) reported earnings on Wed 2 May 2018 (a/h)

Cirrus Logic misses by $0.07, misses on revs; guides Q1 revs below consensus 

• Reports Q4 (Mar) earnings of $0.51 per share, $0.07 worse thanthe Capital IQ Consensus of $0.58; revenues fell 7.5% year/year to $303.2 mln vs the $316.57 mln Capital IQ Consensus.
• Reports GAAP and non-GAAP gross margin of 50.3% and 50.5%, respectively.
• Co issues downside guidance for Q1, sees Q1 revs of $210-$250 mln vs. $301.10 mln Capital IQ Consensus Estimate. GAAP gross margin is expected to be between 48-50%; and Combined GAAP R&D and SG&A expenses are expected to range between $13-3$139 million, which includes approximately $13 million in share-based compensation and $13 million in amortization of acquired intangibles.