SAN JOSE, Calif. — (BUSINESS WIRE) — January 23, 2014 — Cypress Semiconductor Corp. (NASDAQ: CY) today announced its fourth-quarter 2013 and fiscal year 2013 results, which included the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter included:
- Earnings came in at high end of guidance
- Book-to-bill increased to 1.08, its highest level in almost two years
- Non-GAAP operating expenses at a 14-year low
- Dividend yield was 4.3% with favorable tax treatment
Fellow shareholders:
Our revenue and earnings for the quarter are given below, compared with those of the prior quarter and prior year:
(In thousands, except per-share data)
| NON-GAAP | GAAP | |||||||||||||||||||||||
| Q4 2013 | Q3 2013 | Q4 2012 | Q4 2013 | Q3 2013 | Q4 2012 | |||||||||||||||||||
| Revenue | $ | 167,776 | $ | 188,723 | $ | 180,283 | $ | 167,776 | $ | 188,723 | $ | 180,283 | ||||||||||||
| Gross margin | 51.0 | % | 53.8 | % | 51.5 | % | 45.6 | % | 48.6 | % | 46.7 | % | ||||||||||||
| Pretax margin | 9.4 | % | 12.5 | % | 4.4 | % | -7.0 | % | -5.1 | % | -12.9 | % | ||||||||||||
|
Net income (loss) |
$ | 14,992 | $ | 22,015 | $ | 8,300 | $ | (13,577 | ) | $ | (8,358 | ) | $ | (22,219 | ) | |||||||||
| Diluted EPS (loss) | $ | 0.09 | $ | 0.14 | $ | 0.05 | $ | (0.09 | ) | $ | (0.06 | ) | $ | (0.15 | ) | |||||||||
