Cirrus Logic Inc. Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $138.72 million, or $2.50 per share. This compares with $103.48 million, or $1.83 per share, in last year's third quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $160.63 million or $2.89 per share for the period.

Analysts on average had expected the company to earn $2.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $618.98 million from $590.58 million last year.

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

-Earnings (Q3): $138.72 Mln. vs. $103.48 Mln. last year. -EPS (Q3): $2.50 vs. $1.83 last year. -Analyst Estimate: $2.01 -Revenue (Q3): $618.98 Mln vs. $590.58 Mln last year.

-Guidance: Next quarter revenue guidance: $290 - $350 Mln