Cirrus Logic Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) reported earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $102.14 million, or $1.83 per share. This compares with $75.41 million, or $1.34 per share, in last year's second quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $125.29 million or $2.25 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $541.86 million from $481.06 million last year.

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

-Earnings (Q2): $102.14 Mln. vs. $75.41 Mln. last year. -EPS (Q2): $1.83 vs. $1.34 last year. -Revenue (Q2): $541.86 Mln vs. $481.06 Mln last year.

-Guidance: Next quarter revenue guidance: $480 - $540 Mln