Cirrus Logic: Fiscal Q1 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Cirrus Logic Inc. (CRUS) on Wednesday reported fiscal first-quarter earnings of $76.9 million.

On a per-share basis, the Austin, Texas-based company said it had net income of $1.47. Earnings, adjusted for one-time gains and costs, came to $1.84 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share.

The chipmaker posted revenue of $459.7 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $459.9 million.

For the current quarter ending in September, Cirrus Logic said it expects revenue in the range of $510 million to $570 million.

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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