SAN JOSE, Calif. (AP) _ Cypress Semiconductor Corp. (CY) on Thursday reported fourth-quarter profit of $20.8 million.
The San Jose, California-based company said it had net income of 5 cents per share. Earnings, adjusted for amortization costs and stock option expense, were 28 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 28 cents per share.
The chipmaker posted revenue of $559.6 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $563 million.
For the year, the company reported profit of $40.4 million, or 11 cents per share. Revenue was reported as $2.21 billion.
Cypress shares have increased slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.39, a climb of 66% in the last 12 months.