Cirrus Logic Inc. Q4 Profit Increases, beats estimates

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

The company's earnings totaled $96.41 million, or $1.64 per share. This compares with $25.28 million, or $0.42 per share, in last year's fourth quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $117.71 million or $2.01 per share for the period.

Analysts on average had expected the company to earn $1.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 66.9% to $489.97 million from $293.54 million last year.

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

-Earnings (Q4): $96.41 Mln. vs. $25.28 Mln. last year. -EPS (Q4): $1.64 vs. $0.42 last year. -Analyst Estimate: $1.40 -Revenue (Q4): $489.97 Mln vs. $293.54 Mln last year.

-Guidance: Next quarter revenue guidance: $350 - $390 Mln