Cypress Semiconductor Q1 Earnings Decline 50%

(RTTNews) - Cypress Semiconductor (CY) announced a profit for first quarter that decreased from last year.

The company said its earnings declined to $22.98 million, or $0.07 per share. This was lower than $45.53 million, or $0.13 per share, in last year's first quarter.

The company said revenue for the quarter fell 6.8% to $425.21 million. This was down from $456.37 million last year.

Cypress Semiconductor earnings at a glance:

-Earnings (Q1): $22.98 Mln. vs. $45.53 Mln. last year. -Earnings Decline (Y-o-Y): -49.5% -EPS (Q1): $0.07 vs. $0.13 last year. -EPS Decline (Y-o-Y): -46.2% -Revenue (Q1): $425.21 Mln vs. $456.37 Mln last year. -Revenue Change (Y-o-Y): -6.8%

-Guidance: Next quarter EPS guidance: $0.10 - $0.14 Next quarter revenue guidance: $440 - $470 Mln