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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
MARCH 3, 2000
Date of Report
CYPRESS SEMICONDUCTOR CORPORATION
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(Exact name of registrant as specified in its charter)
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<CAPTION>
<S> <C> <C>
DELAWARE 1- 10079 94-2885898
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification
incorporation) No.)
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3901 NORTH FIRST STREET
SAN JOSE, CALIFORNIA 95134-1599
(Address of principal executive offices)
(408) 943-2600
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
This Current Report on Form 8-K/A is being filed to correct the number
of shares of our common stock issued and outstanding as of January 3, 1999
included in the press release filed as Exhibit 99.1 to our Current Report on
Form 8-K, filed on February 7, 2000. The information contained in our press
release dated January 25, 2000 is incorporated herein by reference.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CYPRESS SEMICONDUCTOR CORPORATION
Date: March 3, 2000 By: /s/ EMMANUEL HERNANDEZ
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Name: Emmanuel Hernandez
Title: Chief Financial Officer
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INDEX TO EXHIBITS FILED WITH
THE CURRENT REPORT ON FORM 8-K/A DATED MARCH 3, 2000
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<CAPTION>
Exhibit Description
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<S> <C>
99.1 Consolidated Balance Sheet and Consolidated Statement of
Operations for the Fourth Quarter of Fiscal Year 1999
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EXHIBIT 99.1
CYPRESS SEMICONDUCTOR CORPORATION
CONSOLIDATED BALANCE SHEET
(In thousands, except per share data and share amounts)
(Unaudited)
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<CAPTION>
Jan. 2, 2000 Jan 3, 1999
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<S> <C> <C>
ASSETS
Current assets:
Cash and short-term investments .... $ 270,556 $ 160,561
Accounts receivable, net ........... 100,114 68,955
Inventories, net ................... 89,432 65,096
Other current assets ............... 33,286 14,372
Total current assets ........... 493,388 308,984
Property and equipment, net ........ 357,183 348,936
Long-term investments** ............ 111,324 57,046
Restricted investments** ........... 61,198 59,742
Other assets ....................... 50,124 8,223
Total assets ................... $1,073,217 $ 782,931
** CASH AT JANUARY 2, 2000 TOTALS $443,078.
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LIABILITIES AND STOCKHOLDERS' EQUITY
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<CAPTION>
Jan 2, 2000 Jan 3, 1999
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<S> <C> <C>
Current liabilities:
Accounts payable ............................................. $ 99,531 $ 53,932
Accrued liabilities .......................................... 52,164 33,145
Deferred income on sales to distributors ..................... 20,760 13,300
Income taxes payable ......................................... 20,311 13,591
Total current liabilities ................................ 192,766 113,968
Convertible subordinated note .................................... 160,000 160,000
Deferred income tax .............................................. 12,093 --
Other long-term debt ............................................. 10,384 10,240
Total liabilities ........................................ 375,243 284,208
Commitments and contingencies Stockholders' equity:
Preferred stock, $ .01 par value, 5,000 shares authorized;
none issued and outstanding .............................. -- --
Common stock, $ .01 par value, 250,000 share authorized;
115,496 and 110,753 issued; 110,516 and 97,465
outstanding .............................................. 453,985 318,098
Retained earnings ................................................ 243,989 180,625
Total stockholders' equity ....................................... 697,974 498,723
Total liabilities and stockholders' equity ............... $1,073,217 $ 782,931
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CYPRESS SEMICONDUCTOR CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
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<CAPTION>
THREE MONTHS ENDED
(Unaudited)
Jan 2, Jan 3, Oct 3,
2000 1999 1999
<S> <C> <C> <C>
Revenues .................................... $ 207,876 $ 145,570 $ 184,497
Costs and expenses:
Costs of revenues ........................ 106,078 95,624 98,528
Research and development ................. 34,025 30,697 32,021
Selling, general and administrative .......... 31,057 23,075 26,000
Acquisition and merger costs ................. 25,940 -- 1,879
Restructuring costs (credits) ................ -- -- --
Total operating costs ........................ 197,100 149,396 158,428
Operating Income (loss) ...................... 10,776 (3,826) 26,069
Interest expense ............................. (2,373) (2,728) (2,458)
Interest income and other .................... 41,568 5,045 4,196
Income (loss) before income tax .............. 49,971 (1,509) 27,807
(Provision) Benefit for income tax ........... (2,498) 243 (1,390)
Net income (loss) ............................ $ 47,473 $ 1,752 $ 26,417
Basic net income (loss) per share ........ $ 0.43 $ 0.02 $ 0.25
Goodwill net of taxes per share .......... $ (0.09) $ -- $ 0.01
Restructuring costs (credits)net of taxes
per share ................................ $ -- $ -- $ --
Basic earnings (loss) before goodwill
per share ................................ $ 0.34 $ (0.02) $ 0.26
Diluted net income (loss) per share .......... $ 0.39 $ (0.02) $ 0.23
Goodwill net of taxes per share .............. $ (0.07) $ -- $ 0.01
Restructuring costs (credits) net of taxes
per share ................................ $ -- $ -- $ --
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<CAPTION>
Jan 2, Jan 3, Oct 3,
2000 1999 1999
<S> <C> <C> <C>
Diluted earnings (loss) before goodwill
per share ............................ $ 0.32 $ (0.02) $ 0.24
Shares used in per share calculation:
Basic ............................ 109,891 96,528 107,508
Diluted .......................... 126,593 96,528 117,103
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YEARS ENDED
(Unaudited)
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<CAPTION>
Jan 2, Jan 3,
2000 1999
<S> <C> <C>
Revenues ............................................... $ 705,487 $ 554,890
Costs and expenses:
Costs of revenues .................................. 383,639 409,110
Research and development ........................... 129,331 114,550
Selling, general and administrative ................ 105,882 91,017
Acquisition and merger costs ....................... 37,623 --
Restructuring costs (credits) ...................... (3,811) 60,737
Total operating restructuring costs ............ 652,664 675,414
Operating Income (loss) ............................ 52,823 (120,524)
Interest expense ....................................... (9,617) (11,276)
Interest income and other .......................... 52,665 13,357
Income (loss)before income tax ..................... 95,871 (118,443)
(Provision)benefit for income tax .................. (4,817) 13,523
Net income (loss) ...................................... $ 91,054 $(104,920)
Basic net income (loss) per share .................. $ 0.87 $ (1.03)
Goodwill net of taxes per share .................... $ 0.01 $ --
Restructuring costs (credits) net of taxes
per share .......................................... $ (0.03) $ 0.53
Basic earnings (loss) before goodwill per share .... $ 0.85 $ (0.50)
Diluted net income (loss) per share ................ $ 0.81 $ (1.03)
Goodwill net of taxes per share .................... $ 0.01 $ --
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<CAPTION>
Jan 2, Jan 3,
2000 1999
<S> <C> <C>
Restructuring costs (credits) net of taxes per share ... $ (0.03) $ 0.53
Diluted earnings (loss) before goodwill per share ...... $ 0.79 $ (0.50)
Shares used in per share calculation:
Basic .......................................... 104,703 101,944
Diluted ........................................ 111,735 101,944
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