+ At the Computex trade show in Taipei, Cypress announced additions to its USB-C and Internet of Things (IoT) wireless connectivity portfolios. Cypress’ new, highly integrated EZ-PD™ CCG3PA USB-C controller is optimized to streamline the design of power adapters, mobile chargers, car chargers and power banks. Cypress also demonstrated EZ-PD CCG5, the industry’s first two-port USB-C controller that supports designs with Intel’s Thunderbolt™ 3, earmarked to support the ramp of USB-C in notebook and desktop PCs, as well as docking stations. Cypress introduced the new CYW4373 combo solution that delivers advanced wireless coexistence combining 802.11ac high-performance Wi-Fi®, Bluetooth® and Bluetooth Low Energy (BLE), and it incorporates a USB 2.0 hub. The solution is ideal for smart home products and network peripherals such as home appliances and printers, and it is supported in Cypress’ easy-to-use WICED® Studio IoT development platform.
+ GAAP and non-GAAP margins for the second quarter of 2017 were 39.8% and 40.9%, respectively, above the midpoint of guidance and in line with the Company's margin-enhancing initiatives.
+ Cypress paid a cash dividend of $36.3 million, or $0.11 per share, to holders of record of the Company’s common stock as of the close of business on June 29, 2017. The dividend was equivalent to a 3.2% annualized yield as of June 30, 2017. This dividend was paid on July 20, 2017.
| REVENUE SUMMARY | |||||||||||
|
(In thousands, except percentages) |
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| (Unaudited) | |||||||||||
| Three Months Ended | |||||||||||
| July 2, 2017 | April 2, 2017 |
Sequential Change |
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|
Business Unit |
|||||||||||
| MCD | $ | 360,533 | $ | 317,901 | 13 | % | |||||
| MPD | $ | 233,243 | $ | 213,973 | 9 | % | |||||
| Total | $ | 593,776 | $ | 531,874 | 12 | % | |||||
|
Geographic |
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| China & ROW | 55 | % | 55 | % | — | % | |||||
| Americas | 12 | % | 11 | % | 9 | % | |||||
| Europe | 12 | % | 13 | % | (8 | )% | |||||
| Japan | 21 | % | 21 | % | — | % | |||||
| Total | 100 | % | 100 | % | — | % | |||||
|
Channel |
|||||||||||
| Distribution | 74 | % | 71 | % | 4 | % | |||||
| Direct | 26 | % | 29 | % | (10 | )% | |||||
| Total | 100 | % | 100 | % | — | % | |||||
THIRD QUARTER 2017 FINANCIAL OUTLOOK
