On Friday, Shares of Cypress Semiconductor Corporation (NASDAQ:CY), lost -2.22% to $11.88.
Cypress Semiconductor Corporation declared its second quarter 2015 results, which comprised of the remarks below from its president and CEO, T.J. Rodgers. Highlights for the quarter comprised of (financial highlights are non-GAAP):
- Revenue of $491.0 million, at the high end of guidance
- Gross margin of 41.0%, in line with expectations
- Earnings per share of $0.15—the highest quarterly earnings in more than two years for the combined pro forma company
- Annualized synergies achieved ahead of plan: $51.6 million
- Divestiture of mobile touchscreen business for $100 million declared
- Dividend of $36.7 million ($0.11 per share, equivalent to 3.7% annualized yield) declared and paid with favorable tax treatment.
Cypress Semiconductor Corporation provides mixed-signal programmable solutions, semiconductor memories, and integrated semiconductor solutions worldwide. The companys Memory Products division designs and manufactures static random access memory (SRAM) products and nonvolatile RAMs used to store and retrieve data in networking, wireless infrastructure and handsets, computation, consumer, automotive, industrial, and other electronic systems; and general-purpose programmable clocks.
Shares of SanDisk Corp. (NASDAQ:SNDK), declined -2.92% to $61.84, during its last trading session.
SanDisk Corporation declared results for the second quarter ended June 28, 2015. Second quarter revenue of $1.24 billion reduced 24 percent on a year-over-year basis and reduced 7 percent sequentially.
On a GAAP basis, second quarter net income was $81 million, or $0.38 per share, contrast to net income of $274 million, or $1.14 per share, in the second quarter of 2014 and $39 million, or $0.17 per share, in the first quarter of 2015.
On a non-GAAP basis, second quarter net income was $136 million, or $0.66 per share, contrast to net income of $329 million, or $1.41 per share, in the second quarter of 2014 and net income of $134 million, or $0.62 per share, in the first quarter of 2015. For a reconciliation of non-GAAP to GAAP results, see accompanying financial tables and footnotes.
SanDisk Corporation designs, develops, manufactures, and markets data storage solutions in the United States and internationally. The company offers removable cards, which are used in various applications and consumer devices, counting digital cameras, camcorders, smartphones, tablets, and eReaders under the SanDisk Ultra, SanDisk Extreme, and SanDisk Extreme PRO brands.
Finally, PennantPark Investment Corporation (NASDAQ:PNNT), ended its last trade with -4.98% loss, and closed at $7.63, hitting its lowest level.
PennantPark Investment declared recently that it will report results for the third fiscal quarter ended June 30, 2015 on Wednesday, August 5, 2015 after the close of the financial markets.
The Company will also host a conference call at 10:00 a.m. (Eastern Time) on Thursday, August 6, 2015 to talk about its financial results. All interested parties are welcome to take part.
PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of senior secured loans, mezzanine debt, and equity investments. From time to time, the Company may also invest in public companies whose securities are thinly traded. The Company is managed by PennantPark Investment Advisers, LLC.
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