I listened to the CES conf yesterday. Essentially, end demand tapered off the last two weeks of the year. This was due to lack of orders from end customers. Since CY doesn't recognize sales revenue until the stuff leaves the distributor, the impact to top line was immediate.
Some semi's recognize revenue when stuff is sent to the distributors. CY doesn't.
Note also that 4th qtr earnings has some Ramtron acquisition charges in it that won't repeat; as well as inventory writedowns.
Note the timing; last two weeks of 2012; during the over hyped Fiscal Cliff fiasco.
As to the Conference Call you listened to recently----last year, probably in the middle of year---two people in the Audience questioned Mr. Brad Buss and pointed out to Mr. Buss that he was spending the most time on the 20% of the business that was doing good and the 80% that was not doing good he just touched on.
jbartram-I don't know your financial education--but that is what is known as "deception." Some of the statements you make about CY is deception that you read about and pass on to this Board.
Mr. Bosse that just posted on this "thread" is correct----Mr. Buss told us that Q1 2012 was the "trough." If the CEO and the CFO did not know that the "macro" Economic Conditions were already here in 2012 and getting worse--they should be fired by the BOD! C'mon--. Get real!
lettucecometogether--During the Tech Bubble Burst in the late 1990's early 2000's CY went from $58/share to $3+ per share in pretty short order. Some of the same CY Lovers that are on this Board as lately as 2 days ago took a huge loss---and have still not learned that when a CEO says "I'm holding" it is a good sign.
As to can CY recover next year---I would point out that the leader of Germany, Ms. Merkel, states every day in the News media that Germany and the rest of the Euro Zone are in dire straits! China, Japan and the Middle East too! As I write the Fed Reserve of the USA is dumping 40 Billion Dollars a month into the Economy; and, the Fed Funds Rate is 0%---that figure alone should tell you that there is no growth to amount to anything expected by the Fed Reserve.
Now is not a good time for investors to be "butting their heads" against the Wall and fighting the trend.
Good luck to you--I hope you make billions of dollars.