Cypress Semiconductor said revenues were $532 million for the second quarter, down nearly 15% from the same period a year ago when revenues hit $624 million. Net losses were $12.7 million.
The company did not hold an earnings conference call or give forward-looking guidance because of a pending purchase of Cypress by Infineon Technologies for about $10 billion, which was first announced in June.
“The combination of our highly-complementary product portfolios opens up great potential in the high-growth areas of automotive and Iot,” Cypress said in a statement issued July 25.
Revenues for the quarter were up nearly 5% over the first quarter when adjusted for Cypress’ divestiture of its NAND business, completed on April 1.
Cypress CEO Hassane El-Khoury said it was a solid second quarter in which revenue, gross margin and diluted earnings per share all fell within guidance ranges.
“Cypress’ world-class compete and compute solutions continue to gain strong momentum, including in IoT where Cypress’ revenue was up 30% sequentially in Q2, driven by strength in Wi-Fi/Bluetooth combos as well as standalone Bluetooth,” El-Khoury said. The automotive segment also grew.
Infineon reports earnings on Aug. 1.
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