Needham & Company Upgrades Cypress Semi (CY) to Strong Buy
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Cypress Reports First-Quarter 2015 Results
April 30, 2015 8:02 AM EDTSAN JOSE, CA -- (Marketwired) -- 04/30/15 -- Cypress Semiconductor Corp. (NASDAQ: CY) today announced its first-quarter 2015 results, which included the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter included:
Closed $5 billion merger with Spansion Inc. on March 12, earlier than anticipated Revenue of $209.1 million that included 18 days of Spansion results, with revenue of $173.9 million for existing Cypress business in line with guidance Non-GAAP loss per share of ($0.45) that included $107 million adjustment for aged and excess inventory acquired through merger $8.4 million in annualized synergies already... More