Cirrus Logic Inc. Q4 Profit Increases, Beats Estimates

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

The company's earnings came in at $71.27 million, or $1.31 per share. This compares with $44.84 million, or $0.81 per share, last year.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $90.63 million or $1.67 per share for the period.

Analysts on average had expected the company to earn $1.17 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 14.2% to $424.46 million from $371.83 million last year.

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

-Earnings: $71.27 Mln. vs. $44.84 Mln. last year. -EPS: $1.31 vs. $0.81 last year. -Revenue: $424.46 Mln vs. $371.83 Mln last year.

-Guidance: Next quarter revenue guidance: $330 - $390 Mln