Cypress Reports Second Quarter 2018 Results

1. In 2018, certain expenses have been reclassified as part of cost of revenue. Historical results have been conformed with the 2018 presentation.

2. See the “Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures” tables (“Non-GAAP Reconciliation Tables”) included below.

BUSINESS REVIEW

+ Cypress announced key developments in its wireless connectivity solutions for the automotive and industrial markets during the quarter. Pioneer selected Cypress’ automotive-grade Wi-Fi® and Bluetooth® combo solution for its flagship in-dash infotainment receiver. The solution uses Cypress’ Real Simultaneous Dual Band (RSDB) technology to enable passengers to display and use their smartphone’s apps via Apple CarPlay™ or Android Auto™. Additionally, Cypress collaborated with Semtech on a two-chip LoRaWAN™-based module for smart city applications that uses Cypress’ PSoC® 6 microcontroller (MCU) with integrated Bluetooth Low Energy (BLE) and hardware-based security to deliver highly protected device-to-cloud connectivity.

+ Cypress continued to expand its high-performance, differentiated fail-safe storage offerings with the new Semper™ NOR Flash family — the world’s most advanced Flash solution for mission-critical automotive and industrial applications. The family has already won multiple major automotive platforms for next-generation instrument clusters and Advanced Driver Assistance Systems (ADAS).

+ Cypress also announced multiple key developments for its industry-leading USB-C solutions. The company’s EZ-PD™ USB-C controllers with Power Delivery (PD) have been selected for key reference designs for PCs and peripherals, with one qualified by Intel for use in Thunderbolt™ 3 host and peripheral designs, and one qualified by AMD for use with its “Raven Ridge” processors for notebook and desktop PCs. Cypress also continued to expand its portfolio with the industry’s first 7-port USB-C hub controller for notebook and tablet docking stations and monitor docks.

+ On July 19, 2018, Cypress paid a cash dividend of $39.4 million, or $0.11 per share, to holders of record of the Company’s common stock as of the close of business on June 28, 2018. The dividend was equivalent to a 2.8% annualized yield as of June 29, 2018.

 
REVENUE SUMMARY

(In thousands, except percentages)

(Unaudited)

 

    Three Months Ended
                Year-over-
Sequential year
July 1, 2018     April 1, 2018     July 2, 2017     Change     Change

Business Unit

         
MCD $ 368,526 $ 336,710 $ 360,533 9.4 % 2.2 %
MPD $ 255,564   $ 245,531   $ 233,243   4.1 % 9.6 %
Total $ 624,090   $ 582,241   $ 593,776   7.2 % 5.1 %
    Three Months Ended
July 1, 2018     April 1, 2018     July 2, 2017

End Market

             
Industrial 19.0 % 17.9 % 19.2 %
Automotive 30.8 % 34.3 % 30.8 %
Consumer 31.3 % 31.3 % 34.1 %
Enterprise 18.9 % 16.5 % 15.9 %
Total 100 % 100 % 100 %
1.     The Microcontroller and Connectivity Division ("MCD") includes microcontroller, wireless connectivity and USB products and the Memory Products Division ("MPD") includes RAM, Flash and AgigA Tech products.
 

THIRD QUARTER 2018 FINANCIAL OUTLOOK

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »
Featured Video
Jobs
Senior Firmware Architect - Server Manageability for Nvidia 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 Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 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