Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 79

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 79
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CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

  Fiscal Years EndedMarch 29,2025March 30,2024March 25,2023Net sales$1,896,077 $1,788,890 $1,897,617 Cost of sales900,039 872,818 940,638 Gross profit996,038 916,072 956,979 Operating expensesResearch and development434,684 426,475 458,412 Selling, general and administrative150,995 144,172 153,144 Restructuring— 1,959 10,632 Intangibles impairment— — 85,760 Total operating expenses585,679 572,606 707,948 Income from operations410,359 343,466 249,031 Interest income33,984 21,493 9,985 Interest expense(898)(915)(898)Other income (expense)1,469 (108)(3,379)Income before income taxes444,914 363,936 254,739 Provision for income taxes113,407 89,364 78,036 Net income331,507 274,572 176,703 Basic earnings per share$6.24 $5.06 $3.18 Diluted earnings per share$6.00 $4.90 $3.09 Basic weighted average common shares outstanding53,135 54,290 55,614 Diluted weighted average common shares outstanding55,241 56,021 57,226 

The accompanying notes are an integral part of these financial statements.

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CIRRUS LOGIC, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

  Fiscal Years EndedMarch 29,2025March 30,2024March 25,2023Net income$331,507 $274,572 $176,703 Other comprehensive income (loss), before taxForeign currency translation loss(566)(850)(834)Unrealized gain on marketable securities2,514 996 430 Provision for income taxes(528)(210)(90)Comprehensive income$332,927 $274,508 $176,209 

The accompanying notes are an integral part of these financial statements.

44

CIRRUS