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Cypress Semiconductor Corporation Message Board

  • storagelh storagelh Jul 21, 2005 5:00 PM Flag

    Rogers pulls another coop

    How does he continue to get away with is beyond me. All the other semi companies are having blow out qrts. and they miss again, even worse than before. -.12 and they were supposed to lose .02. My calculator want even tell me the % basis of this latest fiasco, but once again he tells the idiotic analyst community they will turn a profit next qrt. How many times can they get away with it. He keeps talking about a pickup in business when everybody else is guiding flat to lower. And the stock won't sell off. Once again, earnings don't matter, its just how much you pay the analyst to adjust their #'s to match your BS stories. He must have pictures, because any other stock would be back below 5 by now. They just don't miss by a penny, its always big. Unbelievable, and somebody will upgrade and write an article about their future . If you can't make $$$$ in this envirnment, what will happen when the economy slows down ?

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    • Interesting that the price held up fairly well on more than 2x normal volume. Hmmmm - I wonder if TJ has decided yet who will handle the IPO . . . ?

    • Its getting kinda tedious refuting your misrepresenations. Estimate was for -0.02 pro-forma/adj-GAAP. So they beat by a penny.

      "the San Jose, Calif., chip maker reported an adjusted loss of $1.8 million, or a penny a share, for the second quarter, a penny better than Wall Street's consensus estimate for a loss of 2 cents a share" (marketwatch)

      Whatever you think of the pro-forma vs GAAP argument, to compare GAAP EPS with adjusted-GAAP estimates is an attempt to deliberately deceive.

      "He keeps talking about a pickup in business when everybody else is guiding flat to lower" - revenue was up 10%, and a BTB of 1.11. Who is guiding flat to lower ? Yahoo shows the most pessimistic analyst estimating 0.03 profit (pro-forma) in Q3 on revs of $235 (addmittedly that is pre the CC today).

      So, the best you can do is claim that the analyst community are idiots, and that TJ has some kind of spell over them. I'm no big fan of analysts, but you are living in a fantasy.

      • 1 Reply to cyboardlurker
      • It all depends which article you read and how you interpet it. They lost 15 mil, or -.12 a share before special charges. How many ONE time charges can a company have ? It seems these days its every qrt. but hey, if you can get away with it, and spin it positive, why not. Revenue were down 17% versus a year ago. You aren't supposed to look back , but when a company beats #'s from the prior year, thats all you hear. XYZ beats estimates by 20%, versus the same qrt a year ago, but when they are lower, nobody wants to talk about it. Bottom line, they can't turn a profit when 95% of the other semi companies are rocking and rolling, and all cy does is talk about the future, but they never deliver the goods.

    • Correct. Layoff costs would be another item, unrelated to "goodwill", that are also part of the difference between GAAP and pro-forma. My understanding is that layoff costs would have been a significant part of the difference between GAAP and pro-forma in Q1, but not in Q2.

    • I'm just stating what I read. They lost .12 and the special charge, as they called it , brought it back to .01. Pro-forma was supposed to be a thing of the past but the companies they scew their #'s still use it. Just like expensing of options. That won't be inforced either as long as the big boys, csco, intc etc. continue to do it. Cy #'s never are close, but they manage to pull it off. As long as there is a bid under the market, and semis are the soup de jour, they can get away it, but they better get their act together before this market reverses. Bullish sentiment is so strong, I don't think it matters what you report

    • From what I've seen, CY did continue large layoffs in Q2 due to the merging of the divisions. Also more layoffs in Datacom. I suspect more to come to meet Q3 pro-forma numbers.


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