Cirrus Logic cuts 1Q outlook

July 8, 2003 – Austin, TX – Cirrus Logic says its revenue for the first fiscal quarter will be in the low end of its previous estimates of $40 million to $45 million.

The company also has revealed that Steven Overly, who served as the company’s CFO, general counsel and senior VP of administration, has stepped down for personal reasons, replaced by VP and controller W. Kirk Patterson.

Cirrus Logic says it expects double-digit percentage revenue growth in the second quarter, in line with analysts’ expectations, and that its backlog is “substantially higher” than it was in the prior quarter, according to president and CEO David French.


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