Cypress Q304 Revenue Update.SAN JOSE, Calif. -- Cypress Semiconductor Corporation (NYSE NYSE See: New York Stock Exchange :CY) today announced that it has revised its revenue outlook for the third quarter ending September 26, 2004. Cypress now projects third quarter revenue to be approximately $219.0 million-$221.0 million, down from second-quarter revenue of $264.3 million. Pro forma earnings pro forma earnings Income not necessarily calculated in accordance with generally accepted accounting principles. For example, a company might report pro forma earnings that exclude depreciation expense and nonrecurring expenses such as restructuring costs. per share are expected to be $0.03-$0.05(1). Cypress ascribed the revised projection to a sustained weakness in turns across multiple markets. There was little business improvement during the month of September. Cypress is scheduled to report its 2004 third quarter results in a webcast and conference call on October 14, 2004. The webcast will be accessible via the Investor Relations Investor relations The process by which the corporation communicates with its investors. page on the Cypress website, www.cypress.com/investors. About Cypress Cypress Semiconductor Corp. (NYSE:CY) is Connecting from Last Mile to First Mile(TM) with high-performance solutions for personal, network access, enterprise, metro switch and core communications-system applications. Cypress Connects(TM) using wireless, wireline, digital, and optical transmission standards, including USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. , Fibre Channel, SONET/SDH, Gigabit Ethernet and DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing . Leveraging its process and system-level expertise, Cypress makes industry-leading physical layer devices, framers, and network search engines, along with a broad portfolio of high-bandwidth memories, timing technology solutions and reconfigurable mixed-signal arrays. More information about Cypress is accessible online at www.cypress.com. (1)-The equivalent GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). loss per share, which includes amortization of intangibles and other acquisition-related, restructuring and special charges and credits, is expected to be $0.02-$0.04. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements herein that are not historical facts and that refer to Cypress's plans and expectations for the third quarter of 2004 are "forward-looking statements" about the prospects for Cypress, which are based on our current expectations and could be affected by uncertainties and risk factors, including but are not limited to those described in our filings with the Securities and Exchange Commission. Our actual results may differ materially. Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corporation. "Connecting from Last Mile to First Mile," and "Cypress Connects" are trademarks of Cypress. All other trademarks are the property of their respective owners. |
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