Cirrus Logic Inc. (CRUS) released a profit for third quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $116.01 million, or $2.11 per share. This compares with $138.72 million, or $2.50 per share, last year.
Excluding items, Cirrus Logic Inc. reported adjusted earnings of $138.31 million or $2.51 per share for the period.
Analysts on average had expected the company to earn $2.04 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 10.2% to $555.74 million from $618.98 million last year.
Cirrus Logic Inc. earnings at a glance (GAAP) :
-Earnings: $116.01 Mln. vs. $138.72 Mln. last year.
-EPS: $2.11 vs. $2.50 last year.
-Revenue: $555.74 Mln vs. $618.98 Mln last year.
-Guidance:
Next quarter revenue guidance: $350 - $410 Mln
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