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SAN JOSE, Calif. - Chip maker Cypress Semiconductor Corp. reported a $45.3 million loss for the second quarter, but its loss excluding one-time items beat analysts' estimates and revenue fell less than expected.
The company said it lost 32 cents per share in the three months ended June 28. That compares to a profit of $16.7 million, or 10 cents per share, a year earlier.
Excluding stock-based compensation, acquisition-related costs, restructuring and other one-time items, Cypress would have lost 3 cents per share.
Sales dropped 26 percent to $155.8 million from $209.6 million a year ago. Cypress said its programmable chips and products for the handset market drove revenue.
Analysts polled by Thomson Reuters, who typically exclude special items, expected a larger loss of 9 cents per share on lower sales of $152.5 million.
Its shares slipped 13 cents to $9.53 in morning trading.
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