Cree (CREE) Tops Q4 EPS by 1c, Offers Q1 Guidance

Cree (NASDAQ: CREE) reported Q4 EPS of ($0.18), $0.01 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $205.7 million versus the consensus estimate of $198.7 million.

GUIDANCE:

Cree sees Q1 2021 EPS of ($0.20)-($0.24), versus the consensus of ($0.13). Cree sees Q1 2021 revenue of $203-217 million, versus the consensus of $210.4 million.

• For its first quarter of fiscal 2021, Cree targets revenue in a range of $203 million to $217 million. GAAP net loss is targeted at $83 million to $87 million, or $0.76 to $0.79 per diluted share. Non-GAAP net loss is targeted to be in a range of $22 million to $26 million, or $0.20 to $0.24 per diluted share. Targeted non-GAAP net loss excludes $61 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization or impairment of acquisition-related intangibles, factory optimization restructuring and start-up costs, net accretion on convertible notes, and project, transformation, transaction and transition costs. The GAAP and non-GAAP targets do not include any estimated change in the fair value of Cree’s Lextar investment.

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

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