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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4587)	12/23/2002 11:39:32 AM
From: Proud_Infidel	Respond to of 25522

Cypress sees Q4 shortfall, takes additional action Semiconductor Business News (12/23/02 10:57 a.m. EST) SAN JOSE, Calif. -- The fourth quarter 2002 sales revenue of Cypress Semiconductor Corp. is going to be about $174 million, 7% lower than the average of analysts' estimates, Cypress said today (December 23, 2002). The company ascribed this to lackluster performance in December. Most of the revenue short fall is expected from the company's wireless activities, it also said. San Jose-based Cypress has already taken some cost-cutting actions in the fourth quarter, including laying off approximately 300 employees, the company said. With the further decline in expected fourth quarter revenue,, the company has taken “additional actions” in the factories and is assessing other cost-cutting measures. Further announcements are due to be made when the company announces its results on January 23, 2003.