Cirrus Logic Inc. (CRUS) reported first quarter net income of $0.10 per share after the bell Monday, down from $0.13 per share last year. The consensus estimate was for EPS of $0.21. Revenues totaled $99 million, up from $92.2 million last year. Analysts expected revenues of $100.94 million. Second quarter revenues are expected to be between $170 million and $190 million. Analysts currently expect revenues of $129.65 million.
Cirrus Logic has gapped open sharply higher Tuesday morning and is now up 6.45 at $36.29. The stock has leaped to a new high for the year.
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