Cyrix Reports Second Quarter Results

Richardson, Texas -- July 18, 1996 -- Cyrix Corp. (NASDAQ: CYRX), a leading supplier of high-performance processors, today reported revenues for the quarter ended June 30, 1996 of $27.1 million, down 46 percent from the $50.2 million reported in the same period last year. Revenues for the first six months of 1996 were $78.7 million, down from $135.4 million in the same period last year.

The Company recorded a net loss of $16.4 million for the quarter ended June 30, 1996, compared to net income of $7.5 million for the same period last year. The Company recorded a net loss of $14.5 in the first six months of 1996, compared to net income of $25 million in the first half of 1995.

"Looking beyond the second quarter, Cyrix’s largest challenge is to grow our customer base," said Jerry Rogers, Cyrix president and chief executive officer. "The 6x86™ processor is a very competitive product in today’s marketplace, outperforming equivalent Pentium® and Pentium Pro processors at a significant discount. In addition, the product roadmap to bring us to an MMX-compatible future is sound."

"We know that we must drive this value proposition as aggressively as possible in order to obtain market share for the company, success for the product line and value for the shareholder," Rogers said. "While we are unlikely to turn a profit in the third quarter, the survival of competition and product innovation in the x86 marketplace demand unyielding focus and execution."

Cyrix Corporation, headquartered in Richardson, Texas, is a leading supplier of high-performance processors to the personal computer industry. Founded in 1988, the Company designs, manufactures and markets innovative, x86 software-compatible processors for the desktop and mobile computer markets. Cyrix is a publicly-held company traded on NASDAQ.