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

The 10-second takeaway
For the quarter ended June 30 (Q2), 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 earnings per share dropped.

Margins dropped across the board.

Revenue details
Cypress Semiconductor notched revenue of $193.5 million. The 17 analysts polled by S&P Capital IQ expected to see a top line of $182.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.14. The 17 earnings estimates compiled by S&P Capital IQ forecast $0.07 per share. Non-GAAP EPS of $0.14 for Q2 were 22% lower than the prior-year quarter's $0.18 per share. GAAP EPS of $0.02 for Q2 were 33% lower than the prior-year quarter's $0.03 per share.

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 47.3%, 590 basis points worse than the prior-year quarter. Operating margin was -3.8%, 760 basis points worse than the prior-year quarter. Net margin was 1.9%, 60 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $202.8 million. On the bottom line, the average EPS estimate is $0.15.

Next year's average estimate for revenue is $766.6 million. The average EPS estimate is $0.44.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 976 members out of 1,018 rating the stock outperform, and 42 members rating it underperform. Among 198 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 187 give Cypress Semiconductor a green thumbs-up, and 11 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 $11.43.

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