Cypress Semi Swings To 3Q Loss, Weighed By Options

SAN JOSE, Calif. (AP) — Chip maker Cypress Semiconductor Corp. on Thursday said it posted a loss for the third quarter, weighed down by stock options expenses.

Cypress said it lost $19.7 million, or 13 cents per share. In the same quarter last year, the company earned $138 million, or 86 cents per share.

Excluding stock options expenses and other items, Cypress said it posted a profit of $19.2 million, or 10 cents per share.

Sales fell 20 percent to $178.7 million from $222.7 million last year.

Analysts polled by Thomson Financial expected a profit of 6 cents on $174.4 million in sales. Analysts typically excluded one-time items from their estimates.

The slightly stronger-than-expected results weren't enough to cheer investors, who may have been expecting even better after Tuesday, when industry giant Intel Corp. beat the Street view for the quarter.

Cypress' shares fell 38 cents, or 3.7 percent, to $9.90 in afternoon trading.