correction: Recasts the earlier story
Cirrus Logic Inc. (CRUS) Thursday reported a drop in fourth-quarter profit to $26.36 million or $0.39 per share, from $50.8 million or $0.75 per share last year.
Adjusted income for the quarter was $39.91 million or $0.59 per share, compared to $24.5 million or $0.36 per share last year. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.73 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter spiked to $207.0 million from $110.6 million last year, while analysts expected revenues of $208.56 million.
Looking forward to the first quarter, the company expects revenues in a range between $150 million and $170 million. Analysts currently estimate revenues of $179.65 million.
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