Cypress Reports Third Quarter 2019 Results and Provides Update

Cypress Reports Third Quarter 2019 Results and Provides Update on Regulatory Approvals

1. The three months ended Q2'19 and the nine months ended Q3'19 include a $29.5 million impairment charge recorded for the investment in Deca Technologies, Inc.

Table I: Non-GAAP income tax expense	Three Months Ended									Nine Months Ended
	Q3'19			Q2'19			Q3'18			Q3'19			Q3'18
GAAP income tax provision [i]	$	16,247		$	(18,189	)	$	5,618		$	(2,672	)	$	15,829
[1] Tax impact of non-GAAP adjustments* relating to:
[a] Stock-based compensation	5,227			6,401			5,081			15,911			16,078
[b] Changes in value of deferred compensation plan	32			51			97			209			189
[c] Share in gain/loss, net and impairment of equity method investees	290			6,805			768			7,849			2,283
[d] Imputed interest on convertible debt, equity component amortization on convertible debt and others	651			688			1,424			2,046			3,072
[e] Amortization of debt issuance costs	131			195			—			521			225
[f] Amortization of acquisition-related intangible assets and other	10,793			10,835			11,734			32,659			34,494
[g] Restructuring charges and other	82			620			2,098			723			3,218
[h] Other (income) and expenses	6			—			—			165			—
[i] Loss on extinguishment of debt	1,344			—			—			1,344			684
[j] (Gain) loss on sale of NAND business to joint venture	(396		)	—			—			346			—
[k] Gain on sale of cost method investment	—			—			—			—			(319		)
[2] Merger-related expenses	639			1,766			—			2,405			—
[3] Uncertain tax positions	(6,675		)	2,621			(2,159		)	(3,757		)	(4,870		)
[4] Valuation allowance release, utilization of NOL including excess tax benefits, and other items**	(25,704		)	(9,662		)	(21,882		)	(50,273		)	(61,966		)
Non-GAAP income tax expense [ii]*	$	2,667		$	2,131		$	2,779		$	7,476		$	8,917
Impact of reconciling items on income tax provision [i - ii]	13,580			(20,320		)	2,839			(10,148		)	6,912

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