Cirrus Logic Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) announced a profit for its third quarter that climbed from last year.

The company's profit came in at $114.37 million, or $1.91 per share. This compares with $68.51 million, or $1.13 per share, in last year's third quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $127.76 million or $2.13 per share for the period.

Analysts had expected the company to earn $1.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 29.7% to $485.80 million from $374.67 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q3): $127.76 Mln. vs. $85.59 Mln. last year. -EPS (Q3): $2.13 vs. $1.41 last year. -Analysts Estimate: $1.86 -Revenue (Q3): $485.80 Mln vs. $374.67 Mln last year.

-Guidance: Next quarter revenue guidance: $280 - $320 Mln