Cirrus Logic Inc. Q3 Profit Increases, beats estimates

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

The company's earnings came in at $127.64 million, or $2.16 per share. This compares with $114.37 million, or $1.91 per share, in last year's third quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $149.80 million or $2.54 per share for the period.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.9% to $548.35 million from $485.80 million last year.

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

-Earnings (Q3): $127.64 Mln. vs. $114.37 Mln. last year. -EPS (Q3): $2.16 vs. $1.91 last year. -Analyst Estimate: $2.14 -Revenue (Q3): $548.35 Mln vs. $485.80 Mln last year.

-Guidance: Next quarter revenue guidance: $400 - $440 Mln