Cirrus Logic Inc. (CRUS), which makes high-precision analog and mixed-signal integrated circuits, on Monday raised its second quarter revenue guidance, citing stronger than anticipated demand for its audio products.
The Austin, Texas-based company said it now expects second quarter revenue to be about $55.7 million, compared to its prior guidance of $48 million to $52 million.
Analysts polled by Thomson Reuters currently expect the company to post $49.84 million for the second quarter.
The company said it expects second quarter gross margin to be at the upper range of its previous guidance of 50% to 52%.
Cirrus Logic said it will release its second quarter financial results on October 20.
Cirrus Logic shares closed Monday's regular trading session at $5.13, up 2 cents but gained 48 cents or 9.36% in after hours trading.
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