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                                                                   Exhibit 99.1

Monday, October 1, 2001

CIRRUS ANNOUNCES FISCAL Q2 REVENUES, EPS IN LINE WITH GUIDANCE; CORE ANALOG AND
INTERNET BUSINESSES TO GROW SLIGHTLY IN Q3 HEADCOUNT REDUCTION OF 30 PERCENT
PLANNED

AUSTIN, TEXAS - October 1, 2001 - Cirrus Logic Inc. (Nasdaq: CRUS), the premier
supplier of high-performance analog and DSP chip solutions for digital
entertainment, today said its revenue for the second fiscal quarter, ended
September 30, was at the low end of its previously announced $75 million to $85
million range, which includes the planned $9 million from its hard-disk drive
business. Its pro forma loss per share was at the high end of the $0.15 to $0.20
range previously given. Revenue increased about 10 percent sequentially in the
core analog and Internet businesses, as previously forecast. The company's gross
margins were up significantly from 32 percent in the June quarter, but lower
than guidance of 44 to 46 percent. Operating expenses declined significantly
from the June quarter.

OUTLOOK

The company believes its core Analog and Internet businesses will grow slightly
in the December quarter. This expectation excludes revenues anticipated from the
pending acquisitions of ShareWave, LuxSonor and Stream Machine.

COST REDUCTION

Based on current market outlook, the company will be reducing its worldwide
workforce by approximately 300 employees or about 30 percent in the December
quarter. It anticipates annualized savings of approximately $15 million to $20
million from this action. It will take a one-time cash charge of $4 million to
$5 million in the December quarter, plus a non-cash restructuring charge of
approximately $15 million.

"Now that we have exited the hard-disk drive business, we are continuing to
lower expenses to match revenue projections, and to drive toward our long-term
20 percent operating profit model," said David D. French, president and chief
executive officer. "We have focused on digital entertainment, the market which I
believe will lead the semiconductor industry to its next growth cycle. Our
products are designed for the high-growth entertainment electronics businesses.
In these applications, our technologies will provide an increasing percentage of
the system value, allowing the opportunity for increased market share and
profitability."

The company plans to announce its financial results for the second quarter of
fiscal 2002 after the market closes on Oct. 24, 2001. Cirrus Logic will host a
conference call to discuss its quarterly results beginning at 4 p.m. Central
Time. Interested investors should call 712-271-3858, passcode "Cirrus Logic" at
that time to listen to the call. A Webcast will also be provided at
www.cirrus.com.

ABOUT CIRRUS LOGIC

Cirrus Logic is the premier supplier of high-performance analog and DSP chip
solutions for consumer entertainment electronics that allow people to see, hear,

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connect, and enjoy digital entertainment. Building on its global market share
leadership in audio integrated circuits and its rich mixed-signal patent
portfolio, the company targets mainstream audio, video and Internet
entertainment applications in the consumer entertainment market. Cirrus Logic
operates from headquarters in Austin, Texas and major sites located in Fremont
and El Dorado Hills, Calif., Broomfield and Boulder, Colorado, as well as
offices in Europe, Japan and Asia. More information about Cirrus Logic is
available at www.cirrus.com.

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 the Company's
ability to realize the savings anticipated from its planned reduction in
headcount; the ability of the Company to close the pending acquisitions of
ShareWave, LuxSonor Semiconductors and Stream Machine Company; the ability of
the Company to successfully integrate these acquisitions into its operations and
to realize the anticipated synergies; overall conditions in the semiconductor
market; the rate of consumer electronics market adoption of new products;
customer cancellations of orders, or the failure to place orders consistent with
forecasts; hardware or software deficiencies; delays in customer qualification
of key new products; final determination of appropriate inventory write-downs
based on the outlook at the end of the quarter; actual operational spending; and
the risk factors listed in the company's Form 10-K for the year ended March 31,
2001, 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.

Cirrus Logic(R) is a registered trademark of Cirrus Logic, Inc.

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MEDIA CONTACTS:

Stan Victor
Cirrus Logic, Inc.
512.912.3643
svictor@crystal.cirrus.com

Mary McGowan
Stapleton Communications Inc.
(650) 470-0200
mary@stapleton.com