Cirrus Logic Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) announced earnings for second quarter that declined from the same period last year.

The company's profit came in at $59.49 million, or $0.99 per share. This compares with $76.21 million, or $1.27 per share, in last year's second quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $75.67 million or $1.26 per share for the period.

Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.7% to $347.33 million from $388.91 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q2): $75.67 Mln. vs. $93.27 Mln. last year. -EPS (Q2): $1.26 vs. $1.55 last year. -Analysts Estimate: $0.90 -Revenue (Q2): $347.33 Mln vs. $388.91 Mln last year.