Cirrus Logic Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) released a profit for second quarter that decreased from last year.

The company's earnings came in at $58.17 million, or $0.93 per share. This compares with $73.30 million, or $1.10 per share, in last year's second quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $67.12 million or $1.08 per share for the period.

Analysts had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.9% to $366.31 million from $425.54 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q2): $67.12 Mln. vs. $89.93 Mln. last year. -EPS (Q2): $1.08 vs. $1.36 last year. -Analysts Estimate: $0.74 -Revenue (Q2): $366.31 Mln vs. $425.54 Mln last year.

-Guidance: Next quarter revenue guidance: $360 - $400 Mln