AUSTIN, Texas (AP) _ Cirrus Logic Inc. (CRUS) on Wednesday reported fiscal first-quarter profit of $17.2 million.

The Austin, Texas-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The chipmaker posted revenue of $277.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $260.8 million.

For the current quarter ending in October, Cirrus Logic said it expects revenue in the range of $430 million to $470 million. Analysts surveyed by Zacks had expected revenue of $388.6 million.

Cirrus Logic shares have risen slightly more than 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84.06, a rise of 31% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRUS at https://www.zacks.com/ap/CRUS

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