Cirrus Reports Stellar Third Quarter, but Is Competition a Threat?
Cirrus Logic Inc. (NASDAQ:CRUS) reported third quarter 2013 adjusted earnings of $1.55 per share surpassing the Zacks Consensus Estimate of $1.34. Adjusted or non-GAAP earnings per share exclude amortization of acquisition-related intangible assets but include stock-based compensation expenses. Revenue   Total revenue for the third quarter soared 153.4% from the year-ago quarter to $310.1 million boosted by higher sales of Apple Inc.’s (NASDAQ:AAPL) iPhone 5 which generated good demand for the company’s products. Apple takes parts from Cirrus logic to manufacture its audio products. That’s a healthy part of the company’s business and overall we see a big opportunity to continue ...
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