Cypress Semiconductor (Nasdaq: CY) reported earnings on April 18. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Cypress Semiconductor beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP loss per share expanded.

Margins contracted across the board.

Revenue details
 Cypress Semiconductor logged revenue of $172.7 million. The 13 analysts polled by S&P Capital IQ anticipated revenue of $167.6 million on the same basis. GAAP reported sales were 6.7% lower than the prior-year quarter's $185.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.03. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.01 per share. Non-GAAP EPS of $0.03 for Q1 were 75% lower than the prior-year quarter's $0.12 per share. GAAP EPS were -$0.19 for Q1 compared to -$0.13 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 45.8%, 380 basis points worse than the prior-year quarter. Operating margin was -10.3%, 90 basis points worse than the prior-year quarter. Net margin was -16.3%, 580 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $182.3 million. On the bottom line, the average EPS estimate is $0.07.

Next year's average estimate for revenue is $765.0 million. The average EPS estimate is $0.42.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 989 members out of 1,033 rating the stock outperform, and 44 members rating it underperform. Among 179 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 167 give Cypress Semiconductor a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cypress Semiconductor is outperform, with an average price target of $11.53.

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