March Quarter Could be Bottom for Cypress Semi (CY) - RBC
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Nomura Hopeful Cypress (CY) Decline Has Stabilized
January 8, 2013 1:10 PM ESTThis morning shares of Cypress Semiconductor Corporation (Nasdaq: CY) declined after the company warned investors that its Q4 results would fall short of expectations. Preliminary revenue was forecast at $177 to 179 million vs $193.50 million expected. EPS was seen at $0.03 to $0.04 per share compared to estimates of $0.14.
Commenting on the results,... More
Cypress Semiconductor Corp. (CY) Issues Q4 Warning
January 8, 2013 8:04 AM ESTCypress Semiconductor Corp. (NASDAQ: CY) today provided preliminary, unaudited fourth quarter financial results.
The anemic macro environment impacting the semiconductor industry continued in Q4, and in the last two weeks of December we saw further weakness, mainly within our distribution channels, as customers across all geographies and end markets purchased less product than previously was forecasted by our distribution partners, said Brad Buss, Executive Vice President and Chief Financial Officer. This resulted in a negative impact to Q4 revenue that was greater than we expected.
All divisions will decline sequentially from Q3... More
