CYPRESS SEMICONDUCTOR CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

ON A GAAP BASIS

(In thousands, except per-share data)

(Unaudited)

 Three Months Ended 

2015

2015

2014

Revenues

$     484,778

$      209,137

$        183,601

Cost of revenues

346,705

244,789

88,231

Gross margin

138,073

(35,652)

95,370

Operating expenses:

Research and development 

81,227

50,522

40,927

Selling, general and administrative 

86,011

76,450

42,059

Acquisition costs and amortization of acquisition-related intangibles

41,758

7,397

1,800

Restructuring charges 

10,039

75,715

-

       Total operating expenses, net

219,035

210,084

84,786

Operating income (loss)

(80,962)

(245,736)

10,584

Interest and other income (loss), net 

(6,794)

(5,708)

(1,128)

Income (loss) before income taxes

(87,756)

(251,444)

9,456

Income tax provision (benefit)

2,934

(4,003)

299

Income (loss), net of taxes

(90,690)

(247,441)

9,157

Adjust for net loss attributable to noncontrolling interest

639

643

370

Net income (loss) attributable to Cypress

Net income (loss) per share attributable to Cypress:

Basic

$          (0.27)

$          (1.26)

$              0.06

Diluted

$          (0.27)

$          (1.26)

$              0.06

Cash dividend declared per share

$           0.11

$            0.11

$              0.11

Shares used in net income (loss) per share calculation:

Basic

333,334

196,471

157,936

Diluted

333,334

196,471

164,460