In the early hours of September 25th, Beijing time, Cypress Semiconductor (CY) lowered its third-quarter earnings and revenue expectations on Tuesday, mainly considering the weak mobile device revenue in the Asian market Revenue in the fourth quarter will decline further.
The company lowered its third quarter adjusted earnings per share forecast to 10-12 cents from the previous 17-18 cents, and lowered its revenue forecast to 184 million-187 million US dollars from the previous 201 million-207 million US dollars .
Cypress also said that it expects revenue in the fourth quarter to fall by another 9-11% on the basis of the third quarter.
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