SAN JOSE, Calif. (AP) _ Cypress Semiconductor Corp. (CY) on Thursday reported third-quarter profit of $12.7 million.
The San Jose, California-based company said it had profit of 3 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 30 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The chipmaker posted revenue of $574.5 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $569.2 million.
Cypress shares have risen 84% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.46, a climb of 99% in the last 12 months.