WASHINGTON (dpa-AFX) - Cirrus Logic Inc. (CRUS) reported that its fourth-quarter net income was $50.83 million or $0.75 per share, down from $130.41 million or $1.80 per share in the same quarter last year.
Non-GAAP income per share rose to $0.36 from $0.22 in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter rose to $110.63 million from $91.43 million in the prior year quarter. Five analysts had consensus revenue estimate of $110.08 million for the quarter.
For the first-quarter, Revenue is expected to range between $96 million and $106 million. Five analysts has consensus revenue estimate of $106.62 million for the first-quarter.
The company said it expect revenue to grow substantially in fiscal 2013 as new audio and energy products hit full production later this year. Five analysts has consensus revenue estimate of $491.56 million for the fiscal 2013.
Copyright RTT News/dpa-AFX
© 2012 AFX News
