Cypress Reports First Quarter 2016 Results

 

CYPRESS SEMICONDUCTOR CORPORATION

RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES  (a)

(In thousands, except per-share data)

(Unaudited)

Table A















Q1 2016


Q4 2015



GAAP


Adjustments (Table B)


Non-GAAP


GAAP


Adjustments (Table C)


Non-GAAP

Revenue (b)


$     418,964


$         6,250


$    425,214


$    450,128


$              6,250


$     456,378

Costs and expenses:













Cost of revenues


293,179


(24,807)


268,372


306,880


(31,935)


274,945

Research and development


73,967


(7,737)


66,230


73,682


(7,352)


66,330

Selling, general and administrative


74,501


(15,820)


58,681


85,386


(22,185)


63,201

Amortization of  intangible assets


35,187


(35,187)


-


33,960


(33,959)


-

Impairment of acquisition-related intangible assets


33,944


(33,944)


-


-


-


-

Restructuring costs


270


(270)


-


1,405


(1,406)


-

  Total costs and expenses


511,048


(117,765)


393,283


501,313


(96,837)


404,476

Operating (loss) income


(92,084)


124,015


31,931


(51,185)


103,087


51,902

Interest and other expense, net


(8,329)


2,832


(5,497)


(5,886)


2,118


(3,768)

(Loss) income before income taxes


(100,412)


126,847


26,434


(57,071)


105,205


48,134

Income tax benefit (provision)


(3,742)


161


(3,581)


(15,726)


12,653


(3,073)

(Loss) income, net of taxes


(104,154)


127,008


22,853


(72,797)


117,858


45,061

Net loss attributable to noncontrolling interest


132


-


132


467


-


467

Net (loss) income attributable to Cypress


$   (104,022)


$     127,008


$      22,985


$    (72,330)


$          117,858


$       45,528














Net (loss) income per share attributable to Cypress:













  Basic


$         (0.32)




$          0.07


$        (0.22)




$           0.14

  Diluted


$         (0.32)




$          0.07


$        (0.22)




$           0.13














Cash dividend declared per share


$           0.11




$          0.11


$          0.11




$           0.11














Shares used in net (loss) income per share calculation:













  Basic


320,351


-


320,351


334,447


-


334,447

  Diluted


320,351


20,462


340,813


334,447


27,782


362,229















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