Cirrus Logic Inc. Profit Retreats 15% In Q3

(RTTNews) - Cirrus Logic Inc. (CRUS) announced earnings for third quarter that retreated compared to the same period last year.

The company said its profit came in at $54.12 million, or $0.82 per share. This was down from $63.31 million, or $0.97 per share, in last year's third quarter.

Analysts had expected the company to earn $0.81 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 16.5% to $347.86 million. This was up from $298.61 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q3): $54.12 Mln. vs. $63.31 Mln. last year. -Earnings Decline (Y-o-Y): -14.5% -EPS (Q3): $0.82 vs. $0.97 last year. -EPS Decline (Y-o-Y): -15.5% -Analysts Estimate: $0.81 -Revenue (Q3): $347.86 Mln vs. $298.61 Mln last year. -Revenue Change (Y-o-Y): 16.5%

-Guidance: Next quarter revenue guidance: $210 - $240 Mln