AUSTIN, TX. - Mar. 30, 2001 - Cirrus Logic Inc., (NASDAQ:CRUS), a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics, today announced that it expects revenues for the fourth quarter ending March 31, 2001 to be between $195 million and $200 million, which would result in full fiscal year 2001 revenues between $775 million and $780 million, in line with previously announced guidance.

The company expects its fourth quarter gross margins and earnings per share will be impacted primarily by a shift in product mix toward its lower-margin magnetic storage business, and an inventory charge. Fourth quarter pro forma (see Note 1) diluted earnings per share are expected to be between $0.04 and $0.08, which would result in full fiscal year pro forma diluted earnings per share between $0.70 and $0.74.

“I remain confident that our analog and mixed signal technology strengths and strategic focus will enable us to outperform industry growth rates in our core businesses,” said David D. French, president and chief executive officer of Cirrus Logic. “Our analog and Internet businesses are well positioned in their respective markets, design-win activity remains strong, and I believe we can maintain and extend our existing leadership positions.

“Based on early indications, our analog and Internet revenues are expected to grow in the June quarter, resulting in improved earnings. We estimate that pro forma diluted earnings per share will be between $0.10 and $0.15 in the June quarter,” said Mr. French.

Note 1: Pro forma results for the fourth quarter exclude investment gains, legal settlement expenses, and amortization of acquisition-related expenses. Full year pro forma results also exclude restructuring gains, accounting changes and the extraordinary gain on the early retirement of the company’s convertible notes.

Fourth Quarter and Full Year Earnings and Conference Call: Cirrus Logic will be releasing its full results for the fourth quarter and fiscal year 2001 on Wednesday, May 2, 2001 after the market close. A conference call will be held following the earnings release at 4:00 p.m. Central Time that day. The live call-in telephone number is 212-547-0138, passcode ‘Cirrus Logic’. A replay will be available by calling 402-220-3001.

About Cirrus Logic

Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets high-volume audio, storage and communications applications. Cirrus Logic sells its products under the Crystal ®, Maverick™ and 3Ci™ brands as well as its own name. Founded in 1984 in Silicon Valley, Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont, California and Broomfield, Colorado as well as offices in Europe, Japan and Asia. More information is available at www.cirrus.com.

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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements that are dependent on certain risks and uncertainties including such factors, among others, as overall conditions in the semiconductor market, customer cancellations of orders, or the failure to place orders consistent with forecasts, unforeseen manufacturing difficulties, or hardware or software deficiencies, or delays in customer qualification of key new products, achieving high utilization of the company's manufacturing resources, final determination of appropriate inventory write-downs based on the outlook at the end of each quarter, actual operational spending, obtaining financing sufficient to meet the company's needs and the risk factors listed in the company's Form 10-K for the year ended March 25, 2000, and in other filings with the Securities and Exchange Commission. The foregoing information concerning Cirrus Logic’s business outlook represents our outlook as of the date of this news release, and Cirrus Logic undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.