Cypress Reports Fourth Quarter and Year-End 2015 Results

For the first quarter of 2016, Cypress estimates non-GAAP financial results as follows: net sales in the range of $410 million to $440 million, gross margin of 36%, and diluted EPS in the range of $0.04 to $0.08. 1

1.

These estimates exclude amortization of intangibles of approximately $36 million, equity compensation expense of approximately $27 million, and restructuring charges, depreciation or amortization related to accounting for the Spansion merger of approximately $28 million.

 


NET SALES SUMMARY

(In thousands, except percentages)

(Unaudited)




THREE MONTHS ENDED






Jan. 3,


Sept. 27,


Sequential


Business Unit


2016


2015


Change


PSD1


$157,763


$178,503


(12%)


MPD1,3


$259,402


$260,897


(1%)


DCD1


$17,522


$17,617


(1%)


ETD2


$21,691


$13,043


66%


Total


$456,378


$470,060


(3%)










Geographic








China and ROW


41%


39%


5%


Americas


16%


14%


14%


Europe


14%


14%


0%


Japan


29%


33%


(12%)


Total


100%


100%












Channel








Distribution


67%


71%


(6%)


Direct


33%


29%


14%


Total


100%


100%












1.

PSD, Programmable Systems Division; DCD, Data Communications Division; MPD, Memory Products Division.

2.

ETD, Emerging Technologies Division includes businesses outside our core semiconductor businesses named in Footnote 1. ETD includes subsidiaries AgigA Tech Inc., Deca Technologies Inc., and our foundry business unit.

3.

Our net sales for the third and fourth quarters of 2015 and our estimates for the first quarter of 2016 include $6.25 million of legacy Spansion non-GAAP licensing revenue in MPD, APAC region and direct channel.


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