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CRUS > SEC Filings for CRUS > Form 8-K on 30-Jul-2012All Recent SEC Filings

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Form 8-K for CIRRUS LOGIC INC


30-Jul-2012

Results of Operations and Financial Condition, Submission of Matters to a Vote o


Item 2.02 Results of Operations and Financial Condition.

On July 30, 2012, the Company issued a press release announcing its first quarter of fiscal year 2013 results. The full text of the press release is attached as Exhibit No. 99.1 to this Current Report on Form 8-K.



Item 5.07 Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Stockholders of Cirrus Logic, Inc. (the "Company") was held on July 26, 2012. At the Annual Meeting, the Company's stockholders voted on the following proposals described in detail in the Company's Proxy Statement, dated May 30, 2012. Final voting results for each of the matters voted on at the meeting are set forth below.

Proposal One: Election of Directors

Name                 Votes For    Votes Withheld   Broker Non-Votes
John C. Carter       44,145,556      855,409          13,652,506
Timothy R. Dehne     44,156,469      844,496          13,652,506
Jason P. Rhode       44,913,830       87,135          13,652,506
Alan R. Schuele      44,153,505      847,460          13,652,506
William D. Sherman   43,875,826     1,125,139         13,652,506
Susan Wang           44,829,825      171,140          13,652,506

Proposal Two: Ratification of Appointment of Independent Registered Public Accounting Firm for Fiscal Year Ending March 30, 2013.

Votes For Votes Against Votes Abstained Broker Non-Votes 57,102,092 1,467,548 83,831

Proposal Three: Approval, by non-binding vote, of the compensation of the Company's Named Executive Officers as described in the proxy statement.

Votes For    Votes Against   Votes Abstained   Broker Non-Votes
43,743,314     1,176,713         80,938           13,652,506


Item 7.01   Regulation FD.

On July 30, 2012, in addition to issuing a press release, the Company posted on its website a shareholder letter to investors summarizing the financial results for the first quarter of fiscal year 2013. The full text of the shareholder letter is attached as Exhibit No. 99.2 to this Current Report on Form 8-K.

Use of Non-GAAP Financial Information

To supplement Cirrus Logic's financial statements presented on a GAAP basis, Cirrus has provided non-GAAP financial information, including non-GAAP operating expenses, non-GAAP net income, non-GAAP income from operations, non-GAAP operating margin and non-GAAP diluted earnings per share. A reconciliation of the adjustments to GAAP results is included in the tables below. Non-GAAP financial information is not meant as a substitute for GAAP results, but is included because management believes such information is useful to our investors for informational and comparative purposes. In addition, certain non-GAAP financial information is used internally by management to evaluate and manage the company. As a note, the non-GAAP financial information used by Cirrus Logic may differ from that used by other companies. These non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.




Item 8.01 Other Events

The company has announced the sale of assets associated with its Apex Precision Power business in Tucson, Ariz., for $26 million. After the sale, Cirrus Logic will continue to maintain a high voltage/high power IC design team in Tucson. This transaction is expected to close within 45 days, subject to certain standard closing conditions.

The information contained in Items 2.02, 7.01, 8.01 and 9.01 in this Current Report on Form 8-K and the exhibits attached hereto contain forward-looking statements regarding the Company and cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated. In addition, this information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.



Item 9.01 Financial Statements and Exhibits.

  (d)  Exhibits

  Exhibit       Description

  Exhibit 99.1  Cirrus Logic, Inc. press release dated July 30, 2012
  Exhibit 99.2  Cirrus Logic, Inc. shareholder letter dated July 30, 2012

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