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December 15, 1997updated 03 Sep 2016 12:21pm

CYPRESS SEMICONDUCTOR STRUGGLES TO BREAK EVEN

By CBR Staff Writer

The bad times aren’t over yet for the semiconductor industry, and Cypress Semiconductor Corp is expecting to just about break even when it reports its fourth quarter 1997 figures, anticipating nil to $0.01 per share on revenue of $152m to $155m against analysts expectations of $0.09 to $0.10 per share on revenue of $140m to $143m. For the same quarter last year, the company turned in net profits of $1.3m on revenue of $113.1m. Cypress blames a $5m shortfall in wafer foundry revenue due to lower than expected orders, and a $10m shortfall in static RAM revenue due to a timing problem in getting products shipped. It says its other three divisions, programmable products, data communications and computer products, which account for 56% of the company’s sales, are each forecast to beat their revenue figures for the third quarter, and also the fourth quarter last year. Cypress says the slowdown in the foundry business is likely to continue in 1998. As a result of the foundry problems and the company’s ramping up of new technology in two of its fabs, the company now estimates earnings for 1998 to be $0.50 per share, as compared to analysts’ current estimates of $0.65 to $0.70 per share.

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