Also Thursday, Cypress reported non-GAAP sales of $226.6 million for the fourth quarter of 2010, down 2 percent from the prior quarter but up 17 percent from the fourth quarter of 2009. GAAP revenue—which included a reduction of $6.3 million due to the accounting treatment for settling a long-standing civil antitrust lawsuit on SRAMs—was $220.3 million.
Cypress reported a GAAP net income of $9.1 million, or 5 cents per diluted share, for the fourth quarter.
For the fiscal year 2010, Cypress posted total non-GAAP1 revenue of $883.8 million, an increase of 32 percent from fiscal 2009. On a GAAP basis, Cypress posted total revenue of $877.5 million, an increase of 3 percent from fiscal 2009, the company said.
“Cypress’s fourth-quarter revenue decreased 2 percent sequentially, beating seasonally down trends," Rodgers said. "The strength came from our CCD division which grew 10 percent sequentially due to very strong TrueTouch touchscreen revenues, which drove our overall mobile handset revenues up 27 percent."
Rodgers said Cypress's fourth quarter book-to-bill ratio was 1.35, "due to strong new design wins and bookings for our touchscreen products."