Cirrus Logic Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) announced a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $87.19 million, or $1.52 per share. This compares with $85.10 million, or $1.43 per share, in last year's second quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $114.49 million or $1.99 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.0% to $540.57 million from $465.89 million last year.

Cirrus Logic Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $87.19 Mln. vs. $85.10 Mln. last year. -EPS (Q2): $1.52 vs. $1.43 last year. -Analyst Estimate: $1.44 -Revenue (Q2): $540.57 Mln vs. $465.89 Mln last year.

-Guidance: Next quarter revenue guidance: $520 - $580 Mln