AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Tuesday reported fiscal fourth-quarter profit of $71.3 million.
The Austin, Texas-based company said it had net income of $1.31 per share. Earnings, adjusted for one-time gains and costs, were $1.67 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The chipmaker posted revenue of $424.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $380 million.
For the year, the company reported profit of $331.5 million, or $6 per share. Revenue was reported as $1.9 billion.
For the current quarter ending in June, Cirrus Logic said it expects revenue in the range of $330 million to $390 million.
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