+ At the Embedded World trade show in March, Cypress introduced key additions to its Internet of Things (IoT) solutions portfolio. Cypress' new PSoC® 6 microcontroller (MCU) architecture delivers the industry's lowest power and most flexible solution, with integrated security features required for next-generation, battery-powered, secure IoT devices. Cypress' two new wireless solutions offer advanced coexistence and robust connectivity combining 802.11ac high-performance Wi-Fi®, Bluetooth® and Bluetooth Low Energy (BLE) for IoT applications.
+ Continental selected Cypress' Traveo™ II automotive MCUs for its next-generation body electronics platform, marking the Company's entrance into a new segment in the automotive market.
+ GAAP and non-GAAP margins for the first quarter of 2017 were 37.4% and 39.3%, respectively, above the midpoint of guidance and in line with the Company's margin-enhancing initiatives.
+ Cypress paid a dividend of $36.2 million, or $0.11 per share, to holders of record of the Company's common stock as of the close of business on March 30, 2017. The dividend was equivalent to a 3.2% annualized yield as of March 31, 2017.
|
REVENUE SUMMARY | |||||||||||||||||||||
|
(In thousands, except percentages) | |||||||||||||||||||||
|
(Unaudited) | |||||||||||||||||||||
|
| |||||||||||||||||||||
|
|
Three Months Ended | ||||||||||||||||||||
|
|
(GAAP) |
|
(Non-GAAP)2 | ||||||||||||||||||
|
|
April 2, 2017 |
|
January 1,
|
|
Sequential
|
|
April 2, 2017 |
|
January 1,
|
|
Sequential
| ||||||||||
|
Business Unit |
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
MCD1 |
$ |
317,901 |
|
|
$ |
294,893 |
|
|
8% |
|
|
$ |
317,901 |
|
|
$ |
294,893 |
|
|
8% |
|
|
MPD |
213,973 |
|
|
235,279 |
|
|
(9)% |
|
|
213,973 |
|
|
235,279 |
|
|
(9)% |
| ||||
|
Total |
$ |
531,874 |
|
|
$ |
530,172 |
|
|
0% |
|
|
$ |
531,874 |
|
|
$ |
530,172 |
|
|
0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Geographic |
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
China & ROW |
55% |
|
|
57% |
|
|
(4)% |
|
|
55% |
|
|
57 |
% |
|
(4)% |
| ||||
|
Americas |
11% |
|
|
11% |
|
|
0% |
|
|
11% |
|
|
11 |
% |
|
0% |
| ||||
|
Europe |
13% |
|
|
11% |
|
|
18% |
|
|
13% |
|
|
11 |
% |
|
18% |
| ||||
|
Japan |
21% |
|
|
21% |
|
|
0% |
|
|
21% |
|
|
21 |
% |
|
0% |
| ||||
|
Total |
100% |
|
|
100% |
|
|
0% |
|
|
100% |
|
|
100 |
% |
|
0% |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Channel |
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Distribution |
71% |
|
|
74% |
|
|
(4)% |
|
|
71% |
|
|
74 |
% |
|
(4)% |
| ||||
|
Direct |
29% |
|
|
26% |
|
|
12% |
|
|
29% |
|
|
26 |
% |
|
12% |
| ||||
|
Total |
100% |
|
|
100% |
|
|
0% |
|
|
100% |
|
|
100 |
% |
|
0% |
| ||||
|
|
|
|
1. |
Historical results of MCD include Deca Technologies. |
|
2. |
See Non-GAAP Results tables included below. |
