Cirrus Logic: Fiscal 3Q Earnings Snapshot
AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Wednesday reported fiscal third-quarter earnings of $29.9 million.
The Austin, Texas-based company said it had profit of 49 cents per share. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The chipmaker posted revenue of $324.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $317.9 million.
Cirrus Logic expects full-year revenue in the range of $200 million to $240 million.
Cirrus Logic shares have climbed 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.44, a fall of 24 percent in the last 12 months.