Cirrus Logic Inc. Reveals 2% Retreat In Q2 Bottom Line

(RTTNews) - Cirrus Logic Inc. (CRUS) reported earnings for second quarter that declined compared to the same period last year.

The company said its earnings declined to $42.96 million, or $0.65 per share. This was lower than $43.97 million, or $0.68 per share, in last year's second quarter.

Analysts had expected the company to earn $0.59 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 45.9% to $306.76 million. This was up from $210.21 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q2): $42.96 Mln. vs. $43.97 Mln. last year. -Earnings Decline (Y-o-Y): -2.3% -EPS (Q2): $0.65 vs. $0.68 last year. -EPS Decline (Y-o-Y): -4.4% -Analysts Estimate: $0.59 -Revenue (Q2): $306.76 Mln vs. $210.21 Mln last year. -Revenue Change (Y-o-Y): 45.9%

-Guidance: Next quarter revenue guidance: $370 - $400 Mln