Cypress Sees Revenue of $180-190M vs $205.92M Est; EPS $0.08-0.11

Cypress Semiconductor Corp.

today provided an update to its guidance for the first quarter of 2012 that was previously issued on January 26, 2012. Cypress's revised Q1 2012 Non-GAAP1 guidance is as follows: Revenue of $180 million to $190 million. We expect all divisions and most product lines to decrease sequentially, driven mostly by CCD and MPD. Gross margin of 53% to 54%, which is down mainly due to lower factory utilization as we reduce wafer starts in order to proactively manage inventory levels for Q1 and Q2. Operating expenses of $82 million to $83 million. Fully diluted earnings per share of $0.08 to $0.11.