Cirrus Logic Inc. (CRUS) posted third quarter GAAP net income of approximately $11.1 million or $0.17 per share, compared to GAAP net income of approximately $6.8 million or $0.04 per share in the same quarter last year.
On a non-GAAP basis, the company reported a net income of $12.2 million or $0.19 per share, compared to $4.4 million or $0.07 per share in the same quarter prior year.
Quarterly net revenues increased to $34.9 million, from $24.1 million in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on revenues of $65.0 million. Analysts' estimates typically exclude special items.
Looking ahead for the fourth quarter, the company said it expects revenues to be in the range between $55 million and $59 million.
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