Cypress Semiconductor Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Revenue Guidance for the First Quarter of 2013
For the year, the company reported revenue of $769.687 million compared to $995.204 million a year ago. Operating loss was $17.195 million compared to operating income of $153.719 million a year ago. Loss before income taxes was $20.365 million compared to income before income taxes of $155.578 million a year ago. Net loss attributable to company was $24.356 million or $0.16 per diluted share compared to net income attributable to company of $167.839 million or $0.90 per diluted share a year ago. On non-GAAP basis, operating income was $96.798 million compared to $236.922 million a year ago. Net income attributable to company was $91.124 million or $0.55 per diluted share compared to $237.533 million or $1.25 per diluted share a year ago. Net cash provided by operating activities was $136.422 million compared to $283.808 million a year ago. Capital expenditures were $33.013 million compared to $80.556 million a year ago.
Cypress Semiconductor Corporation now expect first quarter, due to the seasonality of business, to be the revenue bottom of the current semiconductor slump, with revenue growth thereafter.