+ GAAP and non-GAAP margins for the third quarter of 2017 were 41.8% and 43.0%, respectively, achieving the Company's non-GAAP targeted 2017 exit rate a quarter early due to strong execution on key margin-enhancing initiatives. These results represent 390 and 250 basis points of improvement, respectively, over the third quarter of 2016.

+ Cypress continued to add new innovations to the Company’s IoT portfolio, introducing a 28nm, ultra-low power Wi-Fi^® and Bluetooth^® combo solution that extends battery life for wearables, smart home products and portable audio applications. The new CYW43012 solution cuts power consumption up to 70 percent in receive mode and up to 80 percent in sleep mode when compared to current solutions. In a connected world with multiple wireless protocols, Cypress’ advanced coexistence engine enables optimal performance. The solution is supported by Cypress’ all-inclusive Wireless Internet Connectivity for Embedded Devices (WICED^®) Studio IoT development platform, which streamlines the integration of wireless technologies for developers.

+ Cypress also announced the WICED platform now supports Apple^® HomeKit™, enabling OEMs to easily add Siri™ voice control to their smart home products, as well as the convenience of controlling products with smartphones, tablets and smartwatches.

+ Cypress paid a cash dividend of $36.7 million, or $0.11 per share, to holders of record of the Company’s common stock as of the close of business on September 28, 2017. The dividend was equivalent to a 2.9% annualized yield as of September 29, 2017. This dividend was paid on October 19, 2017.

FOURTH QUARTER 2017 FINANCIAL OUTLOOK