Cirrus Logic Inc. Reveals 20% Fall In Q1 Bottom Line

(RTTNews) - Cirrus Logic Inc. (CRUS) revealed earnings for first quarter that lost ground from last year.

The company said its profit came in at $28.90 million, or $0.44 per share. This was down from $36.09 million, or $0.54 per share, in last year's first quarter.

Analysts had expected the company to earn $0.28 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.2% to $259.43 million. This was down from $282.63 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q1): $28.90 Mln. vs. $36.09 Mln. last year. -Earnings Decline (Y-o-Y): -19.9% -EPS (Q1): $0.44 vs. $0.54 last year. -EPS Decline (Y-o-Y): -18.5% -Analysts Estimate: $0.28 -Revenue (Q1): $259.43 Mln vs. $282.63 Mln last year. -Revenue Change (Y-o-Y): -8.2%

-Guidance: Next quarter revenue guidance: $380 - $410 Mln