Cree (CREE) Misses Q1 EPS by 2c

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Go back to Cree (CREE) Misses Q1 EPS by 2c

Cree Reports Financial Results for the First Quarter of Fiscal Year 2017

October 18, 2016 4:01 PM EDT

DURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced consolidated revenue of $321 million from continuing operations, and $50 million from discontinued operations, for a combined revenue of $371 million for its first quarter of fiscal 2017. This represents a 13% decrease compared to combined revenue of $425 million ($381 million from continuing operations and $44 million from discontinued operations) for the first quarter of fiscal 2016 and a 4% decrease compared to the fourth quarter of fiscal 2016. Combined GAAP net income for the first quarter of fiscal 2017 was $0.6 million, or $0.00 per diluted... More