Cypress Reports Third-Quarter 2013 Results

SAN JOSE, Calif. — (BUSINESS WIRE) — October 17, 2013 — Cypress Semiconductor Corp. (NASDAQ: CY) today announced its third-quarter 2013 results, which included the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter included:

  • Revenue and earnings exceeded revised guidance
  • Non-GAAP operating expenses dropped to a 3.5-year low
  • Non-GAAP operating income increased 7% sequentially
  • Dividend yield was 4.9% with a favorable tax treatment

Fellow shareholders:

Our revenue and earnings for the quarter are given below, compared with those of the prior quarter and prior year:

(In thousands, except per-share data)

   
NON-GAAP GAAP
Q3 2013   Q2 2013   Q3 2012 Q3 2013   Q2 2013   Q3 2012
Revenue $188,723 $193,466 $203,015 $188,723 $193,466 $203,015
 
Gross margin 53.8% 53.1% 57.1% 48.6% 47.3% 54.2%
 
Pretax margin 12.5% 11.5% 16.7% -5.1% -3.1% 6.8%
 

Net income (loss)

$22,015 $21,635 $32,322 $(8,358) $3,766 $14,332
 
Diluted EPS

(loss per share)

$0.14 $0.14 $0.20 $(0.06) $0.02 $0.09
 

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