Cirrus Lifts on Guidance (CRUS)

Posted in after-hours 
October 5th, 2009

Cirrus Logic Inc. (NASDAQ: CRUS) announced right after the close of trading that it raised guidance to +48% sequentially to approximately $55.7 million in revenues and above the previous forecast of $48 million to $52 million driven by stronger than previously anticipated demand for audio products.  Thomson Reuters has estimates pegged at $49.85 million in revenues. Total intra-day and after hours is still light, but We have seen a flurry of trading at the closing bell now and have some shares on the day at 4:04 PM EST combined as being over 500,00 vs. 631,000 shares on average. So far we have shares trading up around $5.60 after closing up marginally at $5.13 and the 52-week trading range is $2.16 to $6.22. -JON OGG

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