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
Aldec

Featured Video
Jobs
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper



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 Policy