UPDATE: JMP Securities Downgrades Cree (CREE) to Market Perform

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Go back to UPDATE: JMP Securities Downgrades Cree (CREE) to Market Perform

Cree Reports Financial Results for the Fourth Quarter of Fiscal Year 2020

August 18, 2020 4:01 PM EDT

DURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (Nasdaq: CREE) today announced revenue of $205.7 million for its fourth quarter of fiscal 2020, ended June 28, 2020. This represents an 18% decrease compared to revenue of $251.2 million reported for the fourth quarter of fiscal 2019, and a 5% decrease compared to the third quarter of fiscal 2020. GAAP net loss from continuing operations attributable to controlling interest for the fourth quarter was $39.5 million, or $0.36 per diluted share, compared to GAAP net loss from continuing operations attributable to controlling interest of $34.5 million, or $0.33 per diluted share, for the fourth quarter of... More