Cirrus Logic Inc. Q4 adjusted earnings Miss Estimates

(RTTNews) - Cirrus Logic Inc. (CRUS) revealed earnings for fourth quarter that fell from last year.

The company's profit came in at $12.00 million, or $0.19 per share. This compares with $35.06 million, or $0.52 per share, in last year's fourth quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $33.02 million or $0.51 per share for the period.

Analysts had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.5% to $303.17 million from $327.86 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q4): $33.02 Mln. vs. $56.75 Mln. last year. -EPS (Q4): $0.51 vs. $0.85 last year. -Analysts Estimate: $0.60 -Revenue (Q4): $303.17 Mln vs. $327.86 Mln last year.

-Guidance: Next quarter revenue guidance: $210 - $250 Mln