Cypress Reports Fourth-Quarter and Year-End 2013 Results

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 )
 

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