Cirrus Logic Results Top Estimates; Outlook Strong

(RTTNews) - Semiconductor company Cirrus Logic Inc (CRUS) on Wednesday reported third-quarter net earnings of $22.7 million or $0.35 per share compared with $41.5 million or $0.63 per share last year.

Excluding items, adjusted earnings for the quarter were $0.97 per share compared with $0.89 per share a year ago.

Revenues for the quarter were $298.6 million compared with $218.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.75 per share on revenues of $274.2 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects revenues of $220 million to $240 million, while analysts expect $198.8 million.