Cypress Reports Fourth Quarter and Year-End 2015 Results

(PRNewswire) — Cypress Semiconductor Corp. (NASDAQ: CY) today announced its fourth-quarter and fiscal-year 2015 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 $456.4 million and earnings per share of $0.13, in line with guidance
  • $137.7 million in realized annualized synergies, remaining ahead of plan
  • $56.5 million common stock repurchase, part of a $450 million repurchase program
  • Dividend payment of $36.9 million ($0.11 per share, equal to a 4.5% annualized yield as of December 31, 2015)

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



Q4 2015


Q3 2015


Q4 2015


Q3 2015

Revenue


$456,378


$470,060


$450,128


$463,810










Gross margin


39.8%


41.2%


32.1%


34.6%










Pretax margin


10.6%


13.2%


(13.8%)


6.9%










Net income (loss)


$45,528


$60,040


$(77,259)


$30,312










Diluted EPS (loss)


$0.13


$0.17


$(0.23)


$0.08











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