Cirrus Logic Q2 Profit Tops Estimates; Revenue Up 40% YoY - Quick Facts

(RTTNews) - Cirrus Logic, Inc. (CRUS) reported second-quarter non-GAAP earnings per share of $1.35 compared to $0.65, a year ago. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the second quarter was $428.6 million, up 40 percent year-over-year. The company said the increase in revenue was primarily due to higher sales of portable audio products. One customer contributed more than 10 percent of total revenue in the September quarter, representing 78 percent. Analysts expected revenue of $396.75 million for the quarter.

In the December quarter, the company anticipates revenue will range from $475 million to $515 million, and it remains optimistic about achieving strong growth for fiscal 2017. Analysts polled by Thomson Reuters expect the company to report revenue of $440.28 million.