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. |