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Technology / AI and automation

COMPANY RESULT: CYPRESS SEMICONDUCTOR CORP

Cypress Semiconductor Corp, San Jose-based chip maker, has reported a second-quarter net loss of $6.7m on revenue down 13.4% at $138.1m, compared to net income of $6.1m, $0.07 per share, a year ago. The loss for the quarter amounts to $0.07 per share – a penny better than First Call’s expectations for the quarter. Six- month net loss was $107.9m on revenue down 10.4% at $236.6m, against net income of $11.1m, or $0.13 per share, last year. Results for the six-month period include restructuring charges of $65.1m stemming from its consolidation of chip fabs and the subsequent layoff of 300 staff back in March (CI No 3,365).

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CBR Staff Writer

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