Cirrus Logic's quarterly revenue rises

Reuters News
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Posted: Jul 30, 2012 4:25 PM

(Reuters) - Cirrus Logic Inc reported a rise in quarterly revenue helped by an increase in sales of its audio products.

Net income for the first quarter fell to $7 million, or 10 cents per share, compared with $9.2 million, or 13 cents per share, a year earlier.

Excluding items, it earned 22 cents per share.

Revenue at the company rose 7 percent to $99 million.

The company also said it will sell assets associated with its Apex Precision Power business in Tucson, Arizona for $26 million.

(Reporting by Neha Alawadhi in Bangalore; Editing by Roshni Menon)