Cirrus Logic Inc. Reveals Drop In Q3 Bottom Line

(RTTNews) - Cirrus Logic Inc. (CRUS) announced a profit for third quarter that fell from last year.

The company said its earnings fell to $104.16 million, or $1.59 per share. This was lower than $124.73 million, or $1.87 per share, in last year's third quarter.

Analysts had expected the company to earn $1.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.7% to $482.74 million. This was down from $523.03 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q3): $104.16 Mln. vs. $124.73 Mln. last year. -Earnings Decline (Y-o-Y): -16.5% -EPS (Q3): $1.59 vs. $1.87 last year. -EPS Decline (Y-o-Y): -15.0% -Analysts Estimate: $1.78 -Revenue (Q3): $482.74 Mln vs. $523.03 Mln last year. -Revenue Change (Y-o-Y): -7.7%

-Guidance: Next quarter revenue guidance: $300 - $340 Mln