Cirrus Logic Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) announced earnings for third quarter that decreased from last year.

The company's profit came in at $29.93 million, or $0.49 per share. This compares with $33.78 million, or $0.52 per share, in last year's third quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $55.51 million or $0.91 per share for the period.

Analysts had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 32.8% to $324.30 million from $482.74 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q3): $55.51 Mln. vs. $104.16 Mln. last year. -EPS (Q3): $0.91 vs. $1.59 last year. -Analysts Estimate: $0.80 -Revenue (Q3): $324.30 Mln vs. $482.74 Mln last year.