Cirrus Logic, Inc. (CRUS) reported that its second-quarter net income decreased to $852 thousand or $0.01 per share from $33.37 million or $0.50 per share, last year. The company recorded acquisition related costs of $14.94 million for the quarter. Non-GAAP net income was $43.97 million or $0.68 per share, for the quarter.
On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.
Net sales increased to $210.21 million from $190.67 million, last year. Analysts expected revenue of $187.52 million for the quarter.
The company expects its third-quarter revenue to range between $265 million and $285 million. Analysts expect the company to report third-quarter revenue of $216.80 million.
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