Cypress Reports First Quarter 2019 Results

For the second quarter of 2019, Cypress estimates financial results as follows:

         
    GAAP   Non-GAAP
Revenue (2)   $515 million to $545 million
Gross Margin   37.0% - 37.5%   47.0% - 47.5%
Diluted EPS (3)   $(0.03) to $0.01   $0.22 to $0.26
   
1.   Our Q2 2019 outlook reflects our divestiture of the NAND flash business, which closed on April 1, 2019.
2. For comparison purposes, Q1 2019 revenue would have been $507.9 million excluding the $31.1 million of revenue from the divested NAND flash business, and Q2 2018 revenue would have been $574.6 million excluding the $49.5 million of revenue from the divested NAND flash business.
3. Our share of the NAND joint venture’s Q2 2019 income or loss will be recognized in our Statement of Operations within the line item "Share in net income (loss) of equity method investments." Our expected share of such income is included in our EPS outlook on a GAAP basis but is excluded from our EPS outlook on a non-GAAP basis.
 

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