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Technology Stocks : CYPRESS Semiconductor (CY) -- Ignore unavailable to you. Want to Upgrade?

To: pwrmstr who wrote (1608)	12/15/1997 2:20:00 PM
From: Tim Wolff	Read Replies (1) \| Respond to of 2694

I bought today at 7 1/2 also. Hope I didn't pull the trigger too soon.

To: pwrmstr who wrote (1608)	12/15/1997 2:21:00 PM
From: Bill Murray	Respond to of 2694

Alltime A**hole TJR does it again: Monday December 15, 9:40 am Eastern Time Cypress Semiconductor Sees 4Q '97 Below Analysts' Estimates CYPRESS SEMICONDUCTOR CORP. Sees 1997 Fourth Quarter Below Analysts' Estimates Dec. 15, 1997, Cypress Semiconductor Corp. (NYSE:CY - news) said it expects to report 1997 fourth quarter earnings of nil to $0.01 per share on revenues of $152,000,000 to 155,000,000. The company noted that analysts were expecting $0.09 to $0.10 per share on revenues of $140,000,000 to $143,000,000. For the fourth quarter of 1996, CY reported net income of $1,305,000, or $0.02 per share, on revenues of $113,103,000. The company said there are two causes for the revenue shortfall; a $5,000,000 shortfall in wafer-foundry revenue due to lower orders from their foundry customers, and a $10,000,000 shortfall in static RAM (OTC BB:SRAM - news) revenue due to a timing problem in shipping by the quarter-end cutoff. CY noted that its three other divisions -- programmable products, data communications, and computer products -- which account for 56% of the company's sales, are each forecast to beat their revenue figures for last quarter and the year-ago quarter, partially offsetting the SRAM and foundry shortfalls. CY said the profit impact in lost foundry business is $3,300,000, or $0.024 per share, out of the $0.08 to $0.10 per share total EPS shortfall. The impact of the rest of the net $7,000,000 product revenue shortfall is $0.03 per share. CY said the remaining $0.026 to $0.046 per share difference between the analysts' EPS estimates for the quarter (which were in line with their internal forecast) and the forecast is due to the yield losses and inefficiencies attributable to the rapid ramp-up of the SRAM process technology in the Texas facility. CY added that the slowdown in foundry business is likely to persist in 1998. The company said all of its foundry wafers are manufactured in Fab 2, which is currently under capacity, and that as long as that situation persists, the $0.024 per quarter foundry impact on profits will continue. The company said it expects the manufacturing inefficiencies associated with ramping up new technologies rapidly in Fab 2 to continue for the first three quarters of 1998. CY said the combined impact of the shortfall in foundry business, and the rapid ramping up of new technologies in Fabs 2 and 3, will have an impact on earnings comparable to that of the fourth quarter, about $0.05 to $0.07 per share per quarter. As a result, CY said current analysts' estimates of $0.65 to $0.70 per share for 1998 earnings are ''overstated'' relative to the $0.50 per share that the company now estimates for 1998.