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July 18, 1997updated 05 Sep 2016 12:36pm


By CBR Staff Writer

It took much longer than Cirrus Logic Corp wanted to pair down its operations to just its core businesses, but after a rotten year, the integrated circuit maker believes it’s beginning to see some benefits of the rationalization. Now re-organized into four divisions – mass storage, personal computer products, communications products and its Crystal Semiconductor division – the Fremont, Califonia-based company’s first quarter results showed net profits of $2.5m from losses of $7.6m, while revenue fell 6.2% to 201.6m. The most recent restructuring saw the loss of some 400 jobs (CI No 3,190) which, along with consolidation of certain manufacturing and corporate functions, has resulted in a 13% reduction in operating expenses in the first quarter, according to president and chief operating officer, Michael Hackworth. Revenue were boosted by the company’s Mass Storage Products division, which shipped a record number of disk controllers and accounted for 37% of total revenue. Seagate Technology Inc and Western Digital Corp are among the division’s customers. PC audio and visual acceleration products made up 34% of revenue. Cirrus won Compaq Computer Corp as a customer for its VisualMedia accelerator just after the quarter closed. Communications products made up a further 12% of revenue.

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