Cypress Reports Third 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



October 2, 2016


July 3, 2016

Revenues


$

523,845



$

450,127


Costs and expenses:





Cost of revenues


325,225



291,349


Research and development


95,411



70,171


Selling, general and administrative


92,179



82,490


Amortization of intangible assets


54,849



32,605


Impairment related to assets held for sale


35,259




(Gain) related to investment in Deca Technologies


(112,774)




Goodwill impairment charge




488,504


Total costs and expenses


490,149



965,119


Operating income (loss)


33,696



(514,992)


Interest and other expense, net


(16,924)



(7,316)


Income (loss) before income taxes and non-controlling interest


16,772



(522,308)


Income tax (provision) benefit


(3,304)



5,221


Equity in net loss of equity method investees


(4,233)



(2,568)


Net income (loss)


9,235



(519,655)


Net loss attributable to non-controlling interests


176



381


Net income (loss) attributable to Cypress


$

9,411



$

(519,274)


Net income (loss) per share attributable to Cypress:





Basic


$

0.03



$

(1.65)


Diluted


$

0.03



$

(1.65)


Cash dividend declared per share


$

0.11



$

0.11


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





Basic


321,276



314,305


Diluted


343,718



314,305



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