Cirrus Logic's revenue soars on iPhone
Oct 31 (Reuters) - Audio chipmaker Cirrus Logic Inc , whose chips were used in Apple Inc's iPhone 5, reported a 91 percent jump in second-quarter sales and its forecast for current-quarter revenue crushed analysts' estimates.
The company, which makes chips used to decrypt audio signals, said it expects third-quarter revenue of $270 million to $300 million, above analysts' estimates of $237.7 million, according to Thomson Reuters I/B/E/S.
Net income rose to $35.4 million, or 51 cents per share, for the second quarter, from $11.2 million, or 17 cents per share, a year earlier. Revenue rose to $193.7 million from $101.6 million.
Apple's iPhone 5 included an audio chip made by Cirrus, according to repair firm iFixit, which pried one open.