Feeds

Cypress Semi. cuts earnings, revenue projections

Too many orders being cancelled

  • alert
  • submit to reddit

New hybrid storage solutions

Cypress Semiconductor has been dragged into the market doldrums: order cancellations have hit the chip maker hard, forcing it to re-estimate its earnings and revenue projections for the just-completed first quarter.

So, for the first three months of Cypress' financial year, revenue will come in at around $262 million, down just over six per cent on its previous prediction, $280 million.

Earnings before goodwill will be 23-26 cents a share, the company said today, down from 30-34 cents a share.

The dip is due to order cancellations - which countered almost every booking the company made - and the depressed state of the market.

Q2, which kicked off on 1 April, won't be any better, Cypress said. It expects earnings before goodwill to be a single-digit figure, with revenues down to $200-210 million.

Last quarter, Cypress posted earnings before goodwill of 74 cents a share on revenues of $370 million. Profits totalled $134.7 million. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.