Cirrus Logic (Nasdaq: CRUS) reported earnings on Jan. 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 29 (Q3), Cirrus Logic beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.

Gross margins contracted, operating margins grew, net margins grew.

Revenue details
Cirrus Logic logged revenue of $310.1 million. The nine analysts polled by S&P Capital IQ predicted a top line of $285.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $122.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.64. The nine earnings estimates compiled by S&P Capital IQ predicted $1.41 per share. GAAP EPS of $0.99 for Q3 were 296% higher than the prior-year quarter's $0.25 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 51.0%, 300 basis points worse than the prior-year quarter. Operating margin was 35.3%, 1,370 basis points better than the prior-year quarter. Net margin was 21.9%, 820 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $235.0 million. On the bottom line, the average EPS estimate is $1.01.

Next year's average estimate for revenue is $831.5 million. The average EPS estimate is $3.48.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 749 members out of 780 rating the stock outperform, and 31 members rating it underperform. Among 136 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 129 give Cirrus Logic a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cirrus Logic is outperform, with an average price target of $50.63.

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