Cree (CREE) Tops Q3 EPS by 3c; Guides In-Line

Cree (NASDAQ: CREE) reported Q3 EPS of $0.17, $0.03 better than the analyst estimate of $0.14. Revenue for the quarter came in at $367 million versus the consensus estimate of $366.86 million.

GUIDANCE:

Cree sees Q4 2016 EPS of $0.16-$0.22, versus the consensus of $0.18. Cree sees Q4 2016 revenue of $370-395 million, versus the consensus of $391.44 million.

“Q3 operating results were in-line with the preliminary estimates we provided on April 5th,” stated Chuck Swoboda, Cree Chairman and CEO. “I believe we’ve addressed the root causes that led to our recent business challenges. We improved customer responsiveness in March, and we’re optimistic that this, combined with new product momentum, will drive sequential growth in fiscal Q4.”

For earnings history and earnings-related data on Cree (CREE) click here.

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