UPDATE: Cree (CREE) Misses Q4 EPS by 1c; Guides Q1 Below Views

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Go back to UPDATE: Cree (CREE) Misses Q4 EPS by 1c; Guides Q1 Below Views

Cree Reports Financial Results for the Fourth Quarter and Fiscal Year 2016

August 16, 2016 4:01 PM EDT

DURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced revenue of $388 million for its fourth quarter of fiscal 2016, ended June 26, 2016. This represents a 2% increase compared to revenue of $382 million reported for the fourth quarter of fiscal 2015, and a 6% increase compared to the third quarter of fiscal 2016. GAAP net loss for the fourth quarter was $11 million, or $0.11 per diluted share, compared to GAAP net loss of $88 million, or $0.83 per diluted share, for the fourth quarter of fiscal 2015. On a non-GAAP basis, net income for the fourth... More