SAN JOSE, Calif. (AP) _ Cypress Semiconductor Corp. (CY) on Thursday reported a second-quarter loss of $12.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had a loss of 3 cents. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The chipmaker posted revenue of $532.2 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $531.8 million.
Cypress shares have risen 79% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.75, a climb of 36% in the last 12 months.