Cypress Expects Revenue in Third Quarter to be Higher

9/5/2003 - Cypress Semiconductor Corporation (NYSE: CY) announced that revenue for its 2003 third quarter, ending September 28, 2003, is projected to be higher than current analysts’ estimates.

Cypress, which posted revenue of $203.1 million in the second quarter ended June 29, 2003, was projected by analysts to post $209 million in revenue in the third quarter. The company today guided analysts to a third quarter revenue figure of approximately $214 million and pro forma earnings per share of $0.061.

Cypress attributed its performance during the quarter to stronger than seasonal growth in the consumer market—including robust sales of its timing technology products. Other factors included a continued gradual improvement in the networking business, particularly in the enterprise sector; and an uptick in wireless, driven by customer diversification and a continued shift to higher handset densities.

Cypress is scheduled to report its third quarter results in a webcast and conference call on October 16. The webcast will be accessible via the Investor Relations page on the Cypress website (

About Cypress
Cypress Semiconductor Corporation (NYSE: CY) is Connecting from Last Mile to First MileTM with high-performance solutions for personal, network access, enterprise, metro switch, and core communications-system applications. Cypress ConnectsTM 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

Factors that could cause actual results to differ materially from the forward looking statements include but are not limited to: the effect of global economic conditions, shifts in supply and demand, market acceptance, the impact of competitive products and pricing, product development, commercialization, technological and manufacturing difficulties, and capacity and supply constraints. Please refer to Cypress's Securities and Exchange Commission filing in its Annual Report on Form 10-K for the fiscal year ended December 29, 2002 for a discussion of such risks. Cypress assumes no obligation to update these forward looking statements.

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 Semiconductor Corporation.

[1] Projected third quarter profitability represents a GAAP loss per share of $0.12, including amortization of intangibles and other acquisition-related charges.

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