Cree, Inc. (CREE) Misses Q1 EPS by 12c, Q2 Guidance Falls Short

Cree, Inc. (NASDAQ: CREE) reported Q1 EPS of $0.24, $0.12 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $427.7 million versus the consensus estimate of $432.6 million.

Cree, Inc. sees Q215 EPS of $0.20 - $0.24, versus the consensus of $0.39. Cree, Inc. sees Q215 revenue of $400 - $420 million, versus the consensus of $452.04 million.

“We have good momentum in our Lighting and Power & RF segments, although fiscal Q1 results were below our targeted levels due primarily to lower than expected LED demand,” stated Chuck Swoboda, Cree Chairman and CEO. “While the LED industry conditions are challenging, we’re confident that innovation is still the key to leading the market and driving growth in all of our businesses. Given our technology leadership, new product pipeline and strong balance sheet, we remain uniquely positioned to capitalize as the industry transitions to LED lighting.”

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

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