Reuters: Technology News: Cypress Semiconductor reports a profit, shares up

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Cypress Semiconductor reports a profit, shares up Apr 18th 2013, 12:22 Thu Apr 18, 2013 8:22am EDT (Reuters) - Chipmaker Cypress Semiconductor Corp reported a higher-than-expected adjusted profit for the first quarter, sending its shares up 4 percent in premarket trading. The company reported a profit of 3 cents per share, excluding one-time items. Analysts were expecting earnings of 1 cent per share, according to Thomson Reuters I/B/E/S. Revenue fell 7 percent to $172.7 million, but were ahead of the $167.5 million analysts were expecting. Cypress had a net loss of $28.2 million, or 19 cents per share, during the quarter, compared with a net loss of $19.5 million or 13 cents per share, a year earlier. Cypress' touch sensing microcontrollers are used in mobile phones and tablets. The company counts Samsung Electronics Co as one of its biggest end customers.

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