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Cirrus Logic F2Q08 (Qtr End 9/29/07) Earnings Call Transcript

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2007-10-24 17:14:37.0

Tags: Cirrus Logic Inc.

Question-and-Answer Session

Operator

Thank you, sir. (Operator Instructions). Our first question comes from Heidi Poon, Thomas Weisel Partners. Please go ahead ma'am.

Heidi Poon - Thomas Weisel Partner

Hi, thanks for taking my question. I just wanted to get a little more color on your product refresh especially, the legacy products, that was giving you problem last quarter. Earlier you commented that you think the core businesses are now stabilizing, so are you just suggesting that maybe the seismic product has stabilized and maybe parametering has grown enough to offset that?

Jason Rhode

Yeah. I was intending to pretty much state that, rather even then imply it. Our core industrial business across the board, we think we have stabilized and we think we have got some good growth opportunities going forward.

Heidi Poon - Thomas Weisel Partner

So can you give little more color on the seismic demand picture for next [year], for next few quarters?

Jason Rhode

Well, as we say as near as I can tell it that appears to have bottomed out at this point now and should be fairly stable going forward. It's a volatile market and we have got a variety of customers in there. Some of them are doing -- appear to be doing very well, others lack a little bit of visibility and to what they are doing but as we have said we've got pretty good confidence that it seems to have stabilized.

Heidi Poon - Thomas Weisel Partner

Okay, secondly can you discuss your backlog coverage at this point in particular with the higher mix of these consumer products? How do you think your seasonality will look like especially go into Q1?

Jason Rhode

It sounded like two questions, let me answer it that way. Backlog coverage wise we haven't seen really any drop in visibility relative to the current quarter's backlog. It supports the forecast that we've put out just now very nicely and as far as further quarters out we don't really put any significant -- any specific guidelines out beyond the current quarter. But that said we believe we are pretty well positioned going forward so.

Heidi Poon - Thomas Weisel Partner

Okay can you talk a little bit more about maybe any traction in DTV you've discussed it before maybe incremental opportunities there but seems like you haven't really mentioned anything solely in that area?

Thurman Case

Yeah we are shipping quite a few of our standard catalogs, mixed-signal audio parts DACs and ADCs into that market but it turns to be pretty competitive space and the pricing of these type of products means that it ends up -- there will not be any huge revenue contributions as far. We have introduced some new parts the CS4525 a while back that is a higher dollar part and that is starting to get a little bit of traction there. We are shipping that now in some models of DTV although I will say that the portable media player docking station market has actually turned out to be even a little more significant for that particular part. We have some real good opportunities for our DSP product lines going forward in the DTV space and that's something where we are looking for some growth next year coming out of that product line.

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