Cypress Reports Third Quarter 2016 Results

 


Table F: Net income (loss)







Q3'16


Q2'16

GAAP Net income (loss)


$

9,411



$

(519,274)


Impact of reconciling items on Operating income (see Table D)


37,212



564,281


Interest and other expense, net (see Table B,C)


6,847



3,591


Income tax provision (see Table B,C)


(4)



(8,402)


Non-GAAP Net income


$

53,467



$

40,196


 


Table G: Margin %











Q3'16


Q2'16



GAAP


Non-GAAP


GAAP


Non-GAAP

Revenue (See Table A) [i]


$

523,845



$

530,095



$

450,127



$

456,377


Cost of revenues (See Table B, C) [ii]


325,225



315,326



291,349



283,836


Margin [iii] [ii - i]


$

198,620



$

214,769



$

158,778



$

172,541


Margin % [iii / i]


37.9%



40.5%



35.3%



37.8%


 


Table H: Pretax profit margin %











Q3'16


Q2'16



GAAP


Non-GAAP


GAAP


Non-GAAP

Revenue (See Table A) [i]


$

523,845



$

530,095



$

450,127



$

456,377


Pre-tax profit (see Table E)  [ii]


$

12,539



$

56,598



$

(524,876)



$

42,996


Pre-tax profit margin % [ii / i]


2.4%



10.7%



(116.6)%



9.4%


 


Table I: Weighted-average shares, diluted











Q3'16


Q2'16



GAAP


Non-GAAP


GAAP


Non-GAAP

Weighted-average common shares outstanding, basic


321,276



321,276



314,305



314,305


Effect of dilutive securities:









Stock options, unvested restricted stock and other


7,017



14,008





12,858


Impact of convertible bond


15,425



15,425





12,577


Weighted-average common shares outstanding, diluted


343,718



350,709



314,305



339,740


 

Table J: Net income (loss) Per Share











Q3'16


Q2'16



GAAP


Non-GAAP


GAAP


Non-GAAP

Net income (loss) (see Table F)


$

9,411



$

53,467



$

(519,274)



$

40,196


Add: Interest expense on convertible bond


1,640



746





742


Net income for earnings per share - Diluted [i]


$

11,051



$

54,213



(519,274)



$

40,938


Weighted-average common shares outstanding (see Table I) [ii]


343,718



350,709



314,305



339,740


Non-GAAP earnings per share - Diluted [i/ii]


$

0.03



$

0.15



$

(1.65)



$

0.12


 


CYPRESS SEMICONDUCTOR CORPORATION

SUPPLEMENTAL FINANCIAL DATA

(In thousands)

(Unaudited)




Three Months Ended



October 2, 2016


July 3, 2016

Selected Cash Flow Data (Preliminary):





Net cash provided by (used in) operating activities


$

105,130



$

8,774


Net cash provided by (used in) investing activities


$

(560,248)



$

(15,287)


Net cash provided by (used in) financing activities


$

353,441



$

108,755


Other Supplemental Data (Preliminary):





Capital expenditures


$

19,695



$

12,787


Depreciation


$

19,454



$

19,558


Payment of dividend


$

35,240



$

34,270


Dividend paid per share


$

0.11



$

0.11


 


CYPRESS SEMICONDUCTOR CORPORATION

RECONCILIATION OF GAAP FORWARDING LOOKING ESTIMATES TO NON-GAAP FORWARD LOOKING ESTIMATES











Forward looking
GAAP estimate
(A)


Adjustments (B)


Forward looking
Non-GAAP
estimate
(C)=(A)+(B)





Amortization of
intangibles


Share-based
compensation
expense


Restructuring


Other
items



Margin %


 38% + / - 50 bps


%


0.9

%


%


0.60

%


 40% + / - 50 bps

Diluted earnings per share


 $(0.25) to $(0.20)


$

0.15



$

0.08



$

0.11



$

0.03



 $0.12 to $0.16






















 

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To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/cypress-reports-third-quarter-2016-results-300352960.html

SOURCE Cypress Semiconductor Corporation

Contact:
Cypress Semiconductor Corporation
Thad Trent, EVP Finance & Administration and CFO, (408) 943-2925; Or Joseph L. McCarthy, Director, Corporate Communications, (408) 943-2902
Web: http://www.cypress.com



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