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Cirrus Logic: Fiscal 4Q Earnings Snapshot

AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Monday reported fiscal fourth-quarter profit of $10.2 million.

The Austin, Texas-based company said it had net income of 17 cents per share. Earnings, adjusted for one-time gains and costs, were 68 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The chipmaker posted revenue of $279.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $262.6 million.

For the current quarter ending in July, Cirrus Logic said it expects revenue in the range of $200 million to $250 million. Analysts surveyed by Zacks had expected revenue of $247.9 million.

Cirrus Logic shares have decreased 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $72.07, a rise of 46% in the last 12 months.


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