AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal first-quarter profit of $42.1 million.
The Austin, Texas-based company said it had net income of 76 cents per share. Earnings, adjusted for one-time gains and costs, were $1.12 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The chipmaker posted revenue of $374 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $317.7 million.
For the current quarter ending in September, Cirrus Logic said it expects revenue in the range of $490 million to $550 million.
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