Cirrus Logic rides iPhone content wave, but backend squeeze, PC slump cloud the path ahead

Cirrus Logic reported revenue of US$559.5 million for its fiscal second quarter ended September 26, up 22% sequentially and roughly flat year-on-year. Non-GAAP earnings per share came in at US$2.70, with gross margin reaching 53.8% — a recent high point that the company signaled will not hold.