Piper Jaffray Raised Price Target Following Cree's (CREE) In-Line 2Q
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Cree Reports Financial Results for the Second Quarter of Fiscal Year 2016
January 19, 2016 4:01 PM ESTDURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (NASDAQ: CREE), a market leader in LED lighting, today announced revenue of $436 million for its second quarter of fiscal 2016, ended December 27, 2015. This represents a 5% increase compared to revenue of $413 million reported for the second quarter of fiscal 2015, and a 2% increase compared to the first quarter of fiscal 2016. GAAP net income for the second quarter of fiscal 2016 was $14 million, or $0.14 per diluted share, compared to GAAP net income of $12 million, or $0.10 per diluted share, for the second quarter of fiscal 2015. On a non-GAAP basis, net... More
