'Cypress 3.0' Strategy Bearing Fruit

发布时间:2017-04-27 00:00

Cypress Semiconductor Corp. reported record first quarter sales that beat analysts' expectations Thursday (April 27), offering tangible evidence that the company's strategy to target markets growing faster than the overall semiconductor industry is bearing fruit.

"Our revenue strength in the first quarter was across end markets, particularly from IoT, and NOR memory was stronger than we expected," said Hassane El-Khoury, Cypress president and CEO, in a conference call with analysts following the quarterly report.

El-Khoury said automotive was Cypress's strongest end market in the first quarter, with record sales and design activity. He said automotive sales now make up about one-third of Cypress's total revenue, up from just 11 percent of the firm's revenue in 2011.

El-Khoury, who took the helm of Cypress last August following the April resignation of Cypress Founder and longtime CEO T.J. Rodgers, calls his strategy for realigning the company around core growing markets "Cypress 3.0." The strategy revolves around both organic and inorganic growth, through both internal product development and deals such as the acquisitions of Spansion in 2015 and Broadcom's wireless IoT business last year.

Thad Trent, Cypress's chief financial officer, said on the analyst call Thursday that the strategy is resulting in revenue growth, gross margin improvement and operating leverage across the company.

Hassane El-Khoury
Hassane El-Khoury

"Our Q1 results reflect the actions we have taken to reorganize the company to align our solutions, our investments and our corporate structure with our go-to-market plan and our focus on high-growth areas of the automotive, industrial and consumer markets, including the Internet of Things and USB connectivity," El-Khoury said.

Cypress reported first quarter sales of $531.9 million, the highest quarterly revenue that Cypress has reported since spinning off SunPower Corp. several years ago.

First quarter sales were up slightly compared with the first quarter of 2016. Cypress reported a loss for the quarter based on generally accepted accounting principles (GAAP) of $45.8 million, narrowed from a GAAP net loss of $72.4 billion in the year-ago quarter.

Cypress's sales for the quarter exceeded both the company's own estimates and those of Wall Street's. The company's pro forma earnings per share of 13 cents also exceeded consensus analysts' expectations by a wide margin.

For the second quarter, Cypress said it expects sales to be between $530 million and $560 million, the midpoint of which is well above consensus analysts' estimates.

El-Khoury said Cypress expects continued strength in the second quarter in products "across the board." He noted that the company's status as a supplier to the automotive industry gives it great visibility into sales in coming months.


合资企业的成立,旨在加强Cypress在汽车、工业及物联网市场中对于连接、计算和存储解决方案的聚焦,同时能更好地为NAND客户提供持续支持。作为全球嵌入式解决方案领导者,Cypress半导体公司近日宣布已与SK海力士旗下子公司SK Hynix System IC成立合资公司。在合作的前五年时间里,该合资企业将会生产和销售Cypress现有的单级单元(SLC)NAND产品,并将继续投资下一代NAND产品。合资企业将设立在香港,在股权分配上,SK Hynix System IC公司占有60%的股份,Cypress公司则拥有40%的股权。Cypress公司总裁兼首席执行官Hassane El-Khoury提到:“这家合资企业为持续、稳定的长期供应提供了途径。”,“Cypress公司的3.0战略中,一个关键的方面是,关注我们运用于锁定增长市场的核心技术。“我们将继续在差异化上做努力,这涵盖了连接、计算和存储解决方案。这些解决方案都将其目标市场锁定在具有更长设计周期的汽车、工业及物联网市场中。”“我们的NAND客户将能得到合资企业的全方位支持,并持续满足不断增长的客户需求,同时鼓励Cypress能见证合资企业的成功。”Cypress将会把一整套的SLC NAND闪存产品目录转移到合资企业。1Gb至16Gb器件为通信、消费、汽车和工业应用提供可靠的数据存储。这些产品采用紧凑型封装,外形小巧,符合严格的质量标准,包括AEC-Q100汽车级质量。由于需要获得相关适用监管条例的批准及审核,合资企业的实施和启动预计将在2019年的第一季度举行。
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