Cirrus Logic Inc. Q2 Profit Increases, Beats Estimates

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

The company's earnings came in at $131.59 million, or $2.48 per share. This compares with $102.14 million, or $1.83 per share, last year.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $149.98 million or $2.83 per share for the period.

Analysts on average had expected the company to earn $2.38 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.5% to $560.96 million from $541.85 million last year.

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

-Earnings: $131.59 Mln. vs. $102.14 Mln. last year. -EPS: $2.48 vs. $1.83 last year. -Revenue: $560.96 Mln vs. $541.85 Mln last year.

-Guidance: Next quarter revenue guidance: $500 - $560 Mln