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Cirrus Logic Inc. Q1 adjusted earnings Beat Estimates

Cirrus Logic Inc. (CRUS) announced earnings for its first quarter that rose from last year.

The company's bottom line came in at $18.21 million, or $0.30 per share. This compares with $4.62 million, or $0.08 per share, in last year's first quarter.

Excluding items, Cirrus Logic Inc. reported adjusted earnings of $31.88 million or $0.53 per share for the period.

Analysts had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $242.57 million from $238.25 million last year.

Cirrus Logic Inc. earnings at a glance:

-Earnings (Q1): $31.88 Mln. vs. $20.83 Mln. last year.
-EPS (Q1): $0.53 vs. $0.35 last year.
-Analysts Estimate: $0.30
-Revenue (Q1): $242.57 Mln vs. $238.25 Mln last year.

Next quarter revenue guidance: $290 - $330 Mln

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