Cree, Inc. (CREE) Tops Q2 EPS by 11c, Q3 EPS Guidance Tops Views at Mid-Point

Cree, Inc. (NASDAQ: CREE) reported Q2 EPS of $0.33, $0.11 better than the analyst estimate of $0.22. Revenue for the quarter came in at $413.2 million versus the consensus estimate of $412.5 million.

• Gross margin increased 130 basis points from Q1 of fiscal 2015 to 33.1% on a GAAP basis, and increased 150 basis points to 33.9% on a non-GAAP basis.
• Cash and investments decreased by $274.9 million from Q1 of fiscal 2015 to $829.9 million.
• Accounts receivable, net decreased by $18.0 million from Q1 of fiscal 2015 to $219.0 million, with days sales outstanding of 48.
• Inventory increased by $21.8 million from Q1 of fiscal 2015 to $332.5 million and represents 108 days of inventory.

Cree, Inc. sees Q3 2015 EPS of $0.21-$0.25, versus the consensus of $0.21. Cree, Inc. sees Q3 2015 revenue of $395-415 million, versus the consensus of $405 million.

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

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