Cypress Reports First Quarter 2016 Results

(PRNewswire) — Cypress Semiconductor Corp. (NASDAQ: CY) today announced its first quarter 2016 results, which included the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter included (all financial comments are based on non-GAAP results, unless otherwise noted):

  • Revenue of $425.2 million, in line with guidance
  • 36.9% gross margin and $0.07 earnings per share, above the midpoint of guidance
  • $150.4 million in realized annualized synergies, remaining ahead of our plan
  • $182.5 million common stock repurchase, part of a $450 million repurchase program
  • Dividend payment of $36.6 million ($0.11 per share, equal to a 5.0% annualized yield as of April 1, 2016)

Fellow shareholders:

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

(In thousands, except per-share data)



 NON-GAAP


GAAP




Q1 2016


Q4 2015


Q1 2016


Q4 2015


Revenue


$425,214


$456,378


$418,964


$450,128












Gross margin


36.9%


39.8%


30.0%


31.8%












Pretax margin


6.2%


10.6%


(24.0%)


(12.7%)












Net income (loss)


$22,985


$45,528


$(104,022)


$(72,330)












Diluted EPS (loss)


$0.07


$0.13


$(0.32)


$(0.22)













1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »



Review Article Be the first to review this article
CST: Webinar November 9, 2017

Aldec

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Teklatech: Work smart, Not hard
More Editorial  
Jobs
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Upcoming Events
MIPI DevCon Bangalore 2017 at The Leela Palace Bengaluru India - Oct 27, 2017
MIPI DevCon Hsinchu City 2017 at Sheraton Hsinchu Hotel Taiwan - Oct 31, 2017
The 2017 International Test Conference at Fort Worth Convention Center Fort Worth TX - Oct 31 - 2, 2017
Embedded Systems Conference 2017 at Minneapolis Convention Center Minneapolis MN - Nov 8 - 9, 2017
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise