Cirrus Logic Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) released a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $116.01 million, or $2.11 per share. This compares with $138.72 million, or $2.50 per share, last year.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $138.31 million or $2.51 per share for the period.

Analysts on average had expected the company to earn $2.04 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 10.2% to $555.74 million from $618.98 million last year.

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

-Earnings: $116.01 Mln. vs. $138.72 Mln. last year. -EPS: $2.11 vs. $2.50 last year. -Revenue: $555.74 Mln vs. $618.98 Mln last year.

-Guidance: Next quarter revenue guidance: $350 - $410 Mln