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Cypress Mid-Quarter Update: Third Quarter 2004 | Cypress Semiconductor

Cypress Mid-Quarter Update: Third Quarter 2004

Last Updated: September 03, 2004

Cypress Mid-Quarter Update: Third Quarter 2004

SAN JOSE, Calif., September 3, 2004 - Cypress Semiconductor Corporation (NYSE: CY) today announced that it has revised its revenue outlook for the third quarter ending September 30, 2004. Cypress expects third quarter revenue to be 5%-10% lower than second quarter 2004 revenue of $264.3 million, resulting in pro forma earnings per share of $0.11-$0.15.1

The company attributed the revised projection to ongoing softness in customer orders. The major contributing factors have been inventory in the channel, reduced product lead times and a slowdown in the networking and wireless infrastructure businesses.

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 page on the Cypress website,

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, Fibre Channel, SONET/SDH, Gigabit Ethernet and DWDM. 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

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1-The equivalent GAAP earnings per share are $0.04 to $0.08.


"Safe Harbor" Statement under the private Securities Litigation Reform Act 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.