Cirrus Logic chips in with ‘solid’ results for quarter

Cirrus Logic, the chip designer that bought Edinburgh-based Wolfson for almost £300 million in 2014, has posted “solid” quarterly results thanks to continuing strong demand for portable audio products.

The Us-headquartered group reported revenues of $320.7 million (£241.9m) for its first financial quarter and forecast a figure of between $390m and $430m for the second quarter.

Jason Rhode, president and chief executive, said: “Cirrus Logic delivered solid results in the June quarter as demand for portable audio products was in line with expectations.”

He added: “We are extremely pleased as design activity remained strong across our portfolio and we achieved several new product development milestones over the past several months.”

Since the takeover of Wolfson, the company has moved its Edinburgh operation to the city centre Quartermile development having previously been based in offices near the BT Murrayfield stadium.