Second quarter 2007 results at Cypress

Cypress Semiconductor announced that revenue for the 2007 second quarter was $372.8 million, up 8.7% from prior-quarter revenue of $342.9 million and up 40.6% from year-ago second-quarter revenue of $265.2 million. The company recorded GAAP net income of $363.4 million in the 2007 second quarter. Cypress continues to own 44.5 million SunPower Class B common shares with a current market value of approximately $3.1 billion.