Cypress Reports First Quarter 2016 Results

 

CYPRESS SEMICONDUCTOR CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

ON A GAAP BASIS

(In thousands, except per-share data)

(Unaudited)








Three Months Ended



April 3,


January 3,



2016


2016

Revenues


$                  418,964


$                  450,128

Costs and expenses:





Cost of revenues


293,179


306,880

Research and development


73,967


73,682

Selling, general and administrative


74,501


85,385

Amortization of intangible assets


35,187


33,960

Impairment of acquisition-related intangible assets


33,944


Restructuring costs


270


1,406

Total costs and expenses


511,048


501,313

Operating loss


(92,084)


(51,185)

Interest and other expense, net


(6,250)


(3,556)

Loss before income taxes and non-controlling interest


(98,334)


(54,741)

Income tax provision


(3,742)


(15,726)

Equity in net loss of equity method investee


(2,078)


(2,330)

Net loss


(104,154)


(72,797)

Net loss attributable to non-controlling interests


132


467

Net loss attributable to Cypress


$                (104,022)


$                  (72,330)

Net loss per share attributable to Cypress:





Basic


$                      (0.32)


$                      (0.22)

Diluted


$                      (0.32)


$                      (0.22)

Cash dividend declared per share


$                        0.11


$                        0.11

Shares used in net loss per share calculation:





Basic


320,351


334,447

Diluted


320,351


334,447


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