Revenue Growth: 24%
Profit Growth: 340%
Total Return: 42%
As their annual report puts it, fiscal year 2011 (which ended March 26) "was one hell of a year for Cirrus Logic." The maker of chips for the iPad and iPhone has been booming along with its scaldingly hot customer. In 2009, Apple accounted for 16% of sales, then 35% in 2010, and 47% in fiscal year 2011. That helped propel Cirrus's revenue 67% from 2010, and more than double it over the past two years, to $370 million.
Cirrus's main business is audio chips: the circuitry in everyday devices that controls sound. "It's not particularly sexy," says CEO Jason Rhode. "It just happens to be what we're good at." Customers seem to find it alluring enough. Audio sales jumped to $264.8 million in fiscal year 2011, a 72% increase from 2010.
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L. Michael Cacace, Douglas G. Elam, Betsy Feldman, Kathleen Smyth, and Anne Vandermey, with Josh Dawsey, Mina Kimes, and Sam Silverman