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Cypress Semi Boosts Guidance

It cites strong demand for wireless and consumer-product chips.
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Cypress Semiconductor

(CY) - Get Free Report

raised its fourth quarter earnings forecast by a third, saying it now expects to earn 12 cents a share, thanks to strong demand for wireless and consumer products.

The Thomson First Call consensus is 9 cents a share, matching the company's previous forecast.

The San Jose, Calif.-based chipmaker also upped guidance on revenues to $230 million, from $224 million.

That compares with a loss of $126.2 million, or $1.02 a share, on revenues of $174 million in the same quarter last year.

In the third quarter of 2003, the company earned 8 cents a share on sales of $217million.

Cypress shares closed at $23.06 Thursday, near their 52-week high. The stock has more than doubled in the past six months, outperforming the overall tech market.