Cirrus Logic Inc. Q1 Earnings Climb 89%

(RTTNews) - Cirrus Logic Inc. (CRUS) announced a profit for its first quarter that gained ground from last year.

The company said its bottom line rose to $54.61 million, or $0.81 per share. This was higher than $28.90 million, or $0.44 per share, in last year's first quarter.

Analysts had expected the company to earn $0.66 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 23.6% to $320.74 million. This was up from $259.43 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q1): $54.61 Mln. vs. $28.90 Mln. last year. -Earnings Growth (Y-o-Y): 89.0% -EPS (Q1): $0.81 vs. $0.44 last year. -EPS Growth (Y-o-Y): 84.1% -Analysts Estimate: $0.66 -Revenue (Q1): $320.74 Mln vs. $259.43 Mln last year. -Revenue Change (Y-o-Y): 23.6%

-Guidance: Next quarter revenue guidance: $390 - $430 Mln