Cirrus Logic Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $103.48 million, or $1.83 per share. This compares with $127.64 million, or $2.16 per share, in last year's third quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $135.76 million or $2.40 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $590.58 million from $548.35 million last year.

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

-Earnings (Q3): $103.48 Mln. vs. $127.64 Mln. last year. -EPS (Q3): $1.83 vs. $2.16 last year. -Analyst Estimates: $1.99 -Revenue (Q3): $590.58 Mln vs. $548.35 Mln last year.

-Guidance: Next quarter revenue guidance: $340 - $400 Mln