Seeking Alpha

Cypress higher in spite of mixed results, light guidance

  • Cypress (CY +1.5%) guided on its Q2 CC (webcast) for Q3 revenue of $185M-$191M and EPS of $0.15-$0.17, largely below a consensus of $197.6M and $0.17.
  • However, in spite of the soft sales outlook and Q2 revenue miss, the chipmaker says it's "on track" to hit its 2014 revenue forecast, due to good industrial/automotive demand.
  • Meanwhile, Q2 EPS beat estimates with the help of a 370 bps Q/Q and 90 bps Y/Y increase in gross margin to 54%. Book-to-bill was 0.99, something Cypress blames on "a mild, but broad, softening in the consumer electronics sector."
  • Q2 results, PR

Check out Seeking Alpha’s new Earnings Center »

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs