June 13, 2000 |
Cirrus Logic Inc., the No. 1 maker of semiconductors used in audio devices, said it will unveil a chip for home-audio systems that will download, store and play music from the Internet without using a personal computer. The Maverick EP9312 chip will be the heart of a digital home jukebox system that links to the Internet. Cirrus, based in Austin, Texas, will unveil the Maverick semiconductor today at the Embedded Processor Forum in San Jose and expects to begin selling it in the fall.
September 25, 1998 |
Cirrus Logic Inc., once a dominant maker of semiconductors for computer graphics, will fire up to 28% of its employees and take a $500-million charge to get rid of its weakest businesses. The struggling chip maker will cut 400 to 500 of its roughly 1,800 employees as part of a plan to stop making chips for graphics, personal computer modems and Internet-access equipment. Cirrus will focus instead on its more profitable chips for computer disk drives, audio equipment and industrial devices.
July 17, 1998 |
Microsoft Corp. on Thursday said its fiscal fourth-quarter profit rose 28%, beating forecasts, as the software powerhouse turned in strong sales of its Office and Windows NT programs and got a lift from its new Windows 98. Earnings for the company--whose 82% stock rise so far this year has been one of the main reasons for the Nasdaq composite index surpassing the 2,000 level Thursday--climbed to $1.36 billion, or 50 cents a diluted share, from $1.06 billion, or 40 cents, a year earlier.
March 6, 1998 |
Cirrus Logic Inc. said Thomas Kelly, co-president and chief operating officer, is resigning and Chairman Michael Hackworth will resume the job of president and chief executive. Hackworth, 57, was president and chief executive of the computer-chip maker from 1989 through last April. After the reorganization, he will again be responsible for overseeing all company operations. Kelly, 45, will resign his positions to pursue other interests effective today.
December 13, 1996 |
Fremont-based Cirrus Logic Inc. said its settlement of several shareholders lawsuits will cost $31.3 million, of which the company will pay $2.3 million. The company said its insurance will cover the remainder. Cirrus announced this week that it had settled several class-action suits alleging that the computer chip maker overstated demand for its products and misrepresented earnings projections. The settlement requires court approval. Cirrus shares fell $1 to close at $19.375 on Nasdaq.
December 11, 1996 |
Cirrus Logic Inc. said it agreed to settle all shareholder lawsuits involving allegations that it overstated demand for its products and misrepresented earnings projections. Company spokesman Tom Rigoli declined to disclose the settlement amount, saying it won't have a material effect on earnings. "We still feel the suits are without merit," Rigoli said.