Unfortunately, I am very skeptical of turnarounds, simply because so many don't. Cirrus is still on my Watch List (and I still have a position in the company) but not sure if they will regain their status.
Cirrus Logic [stckqut]CRUS[/stckqut] has had a couple of tough years. Earnings and sales declined in fiscal 2014. This week, the maker of a vast array of audio chips reported that earnings dipped again during the fiscal year ended in March.
But during that year, Cirrus also turned a corner. Q4 earnings soared 61% vs. year-ago levels. That was 40% higher than analyst consensus views and up from a 9% gain in Q3 — its first profit increase in five quarters. Sales surged 71%, also stomping expectations in a second-straight quarter of sharp acceleration after four straight declines.