Cirrus Logic: Fiscal 3Q Earnings Snapshot

AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Monday reported fiscal third-quarter earnings of $114.4 million.

The Austin, Texas-based company said it had net income of $1.91 per share. Earnings, adjusted for one-time gains and costs, came to $2.13 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

The chipmaker posted revenue of $485.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $462.8 million.

For the current quarter ending in March, Cirrus Logic said it expects revenue in the range of $280 million to $320 million. Analysts surveyed by Zacks had expected revenue of $307.9 million.

Cirrus Logic shares have climbed 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $97.73, a rise of 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRUS at https://www.zacks.com/ap/CRUS