Cypress Semiconductor Corporation announced a second-quarter loss.
The chip maker reported a loss of $45.3 million at 32 cents per share. A year ago the company posted a profit of $16.7 million with earnings of 10 cents per share.
Excluding certain charges, earnings would have only been a loss of 3 cents per share, beating analysts estimates of a 9 cent loss per share.
Sales dipped 26 percent to $155.8 million, off from $209.6 million a year ago.
In morning trading Cypress shares were at $9.65 down 0.10%.
Earnings for the quarter fell to $17.5 million or 53 cents per share. The company's earnings from one year ago were $24.2 million, or 72 cents per share. Revenue was also down nearly 24 percent to $345.9 million.
Sales for the company were down across most of its products. Off-road vehicles, Polaris' largest division, saw a drop of 25 percent. However, snowmobile sales were up 23 percent.
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