Cirrus Logic, Inc. develops high-precision, analog and mixed-signal integrated circuits (ICs) for a range of customers. The company delivers optimized products for various audio, industrial, and energy-related applications. Products The company operates two product lines, such as Portable Audio, and Non-Portable Audio and Other. Portable Audio Products The company provides analog and mixed-signal audio converter and digital signal processing products in various mobile applications. The company has a portfolio of ‘codecs’ - chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC, ‘smart codecs’ – codecs with digital signal processing integrated, active noise cancelling, amplifiers, micro-electromechanical systems microphones, and digital signal processors. Additionally, the company’s SoundClear technology consists of a portfolio of tools, software and algorithms that help to differentiate its customers’ products by improving the user experience with features, such as enhanced voice quality, voice capture and audio playback. The company’s products are designed for use in a range of mobile applications, including smartphones, tablets, portable media players, wearables, and smart accessories, such as headsets and headphones. Non-portable Audio and Other Products The company provides high-precision analog and mixed-signal ICs for various products in the consumer, automotive, industrial, and energy applications. The company supplies a range of products, including ICs, codecs, ADCs, DACs, digital interface and amplifiers. Within the consumer market, the company’s products are utilized in laptops, audio/video receivers, home theater systems, set-up boxes, portable speakers, digital camcorders, musical instruments, and professional audio products. Applications for products in the automotive market include satellite radio systems, telematics and multi-speaker car-audio systems. The company’s products are also used in a range of high-precision industrial and energy-related applications, including digital utility meters, power supplies, energy control, energy measurement, and energy exploration applications. Customers, Marketing, and Sales The company offers products worldwide through both direct and indirect sales channels. Its major customers are electronics manufacturers worldwide. The company targets both large existing and emerging customers that derive value from its expertise in advanced analog and mixed-signal design processing, systems-level IC engineering and embedded software development. The company derives its revenues from both domestic and international sales, including sales in the People’s Republic of China, the European Union, Hong Kong, Japan, South Korea, Taiwan, Australia, and the United Kingdom. The company’s domestic sales force includes a network of direct sales offices located in California and Texas. International sales offices and staff are located in Hong Kong, Japan, Shanghai and Shenzhen in the People’s Republic of China, Singapore, South Korea, Taiwan, and the United Kingdom. The company also has sales staff located in Germany. The company supplements its direct sales force with external sales representatives and distributors. For the year ended March 28, 2015, the company had one end customer, Apple Inc., who purchased through multiple contract manufacturers and represented approximately 72 percent of the company’s total sales. Suppliers As a fabless semiconductor company, the company contracts with third parties for wafer fabrication and product assembly and test. The company uses various foundries in the production of wafers, including Taiwan Semiconductor Manufacturing Company, Limited; MagnaChip Semiconductor Corporation; and GLOBALFOUNDRIES. The company’s primary assembly and test houses include Advanced Semiconductor Engineering, Inc.; Amkor Technology Inc.; Nepes Corporation; Siliconware Precision Industries Co., Ltd.; and STATS ChipPAC Ltd. Strategy The company focuses on building strong engineering relationships with the product teams at these customers and work to develop highly differentiated products that address their specific needs. Its products include its best-in-class hardware and a combination of its own intellectual property (IP), algorithms that have been ported to its platform by an ecosystem of third-party partners, and its customers’ IP. This strategy gives the company the opportunity to increase its content with a customer over time through the incorporation of new features, the integration of other system components into the company’s products and the addition of new components. Patents, Licenses and Trademarks As of March 28, 2015, the company held approximately 2,200 pending and issued patents worldwide, which included approximately 1,100 granted U.S. patents, 274 U.S. pending patent applications, and various international patents and applications. The company’s U.S. patents expire in calendar years 2015 through 2033. The company has maintained the U.S. federal trademark registrations for CIRRUS LOGIC, CIRRUS, Cirrus Logic logo designs, WOLFSON, CRYSTAL, and SoundClear, among others. Research and Development The company’s expenditures for research and development were $197.9 million in the year ended March 28, 2015. Competition The company’s primary competitors include, but are not limited to, AAC Technologies; AKM Semiconductor Inc.; Analog Devices Inc.; Audience, Inc.; Austriamicrosystems AG; DSP Group; ESS Technology, Inc.; GoerTek Inc.; InvenSense, Inc.; Knowles Corporation; Maxim Integrated Products Inc.; NXP Semiconductors N.V.; Qualcomm Incorporated; Realtek Semiconductor Corporation; ST Microelectronics N.V.; and Texas Instruments, Inc. History Cirrus Logic, Inc. was founded in 1984. The company was incorporated in California in 1984, became a public company in 1989 and was reincorporated in the state of Delaware in 1999.
cirrus logic inc (CRUS:NASDAQ GS)
800 West 6th Street
Austin, TX 78701
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