Cypress Reports First Quarter 2018 Results

SAN JOSE, Calif. — (BUSINESS WIRE) — April 26, 2018 — Cypress Semiconductor Corporation (NASDAQ: CY), a leader in embedded solutions, today announced its first quarter 2018 results with the following highlights:

  • Revenue was $582.2 million, a 9.5% year-over-year increase
  • GAAP and non-GAAP gross margins were 36.5% and 45.9%, respectively, and represent a 700bps and 660bps increase year over year
  • GAAP diluted EPS improved by 15 cents to $0.02 and Non-GAAP diluted EPS improved 14 cents to $0.27 year over year
  • Revenue from the Automotive end market increased 14.8% year over year

“Cypress continued its solid execution this quarter with strong financial results and business performance,” stated Hassane El-Khoury, Cypress’ president and chief executive officer. “Our focus on the Cypress 3.0 strategy resulted in revenue increasing 9.5% and earnings per share more than doubling year over year. During the quarter, we expanded our embedded solutions portfolio with the introduction of several hardware and software innovations. These empowered Cypress, and our partners, to solve problems for consumer, industrial and automotive customers of all sizes, while also enhancing our ability to cross-sell our entire portfolio. The strength of our innovation muscle is clearly illustrated by our track record of winning with market movers, while simultaneously driving a significant increase in our overall customer count supporting our go-broad efforts.”

Revenue and earnings for the quarter are shown below with comparable periods:

(In thousands, except per-share data)

    GAAP1     NON-GAAP2
Q1 2018     Q4 2017     Q1 2017 Q1 2018     Q4 2017     Q1 2017
Revenue $ 582,241 $ 597,547 $ 531,874 $ 582,241 $ 597,547 $ 531,874
Gross margin 36.5 % 37.2 % 29.5 % 45.9 % 45.4 % 39.3 %
Operating margin 6.1 % 7.0 % (2.6 )% 19.5 % 20.2 % 12.2 %
Net income (loss) $ 9,078 $ (34,012 ) $ (42,999 ) $ 100,296 $ 104,686 $ 45,887
Diluted EPS (loss) $ 0.02 $ (0.10 ) $ (0.13 ) $ 0.27 $ 0.28 $ 0.13
1.   During Q1'18, certain expenses have been reclassified as part of cost of revenue. Historical results have been conformed with Q1'18 presentation.
2. See “Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures” tables (“Non-GAAP Results” tables) included below.
 

BUSINESS REVIEW

1 | 2 | 3 | 4 | 5 | 6  Next Page »
Featured Video
Jobs
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
CAD Engineer for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Upcoming Events
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024
SEMI | MSIG MEMS & Imaging Sensors Summit at Munich Germany - Nov 14 - 15, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+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 PolicyAdvertise