Cree (CREE) Tops Q1 EPS by 1c, Q2 Guidance Falls Short
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Cree Reports Financial Results for the First Quarter of Fiscal Year 2016
October 20, 2015 4:01 PM EDTDURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $425.5 million for its first quarter of fiscal 2016, ended September 27, 2015. This represents a 1% decrease compared to revenue of $427.7 million reported for the first quarter of fiscal 2015, and an 11% increase compared to the fourth quarter of fiscal 2015. GAAP net loss for the first quarter was $23.6 million, or $0.23 per diluted share, compared to GAAP net income of $11.1 million, or $0.09 per diluted share, for the first quarter of fiscal 2015. On a non-GAAP basis, net income for the first quarter... More
