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Cree Q3 Net Rises Substantially

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Cree (NASDAQ: CREE  ) just-released results revealed a strong Q3 for the LED lighting specialist. For the quarter, net revenue totaled just under $349 million, a substantial gain from the $285 million posted in the same period the previous year. Non-GAAP net profit advanced 75% on a year-over-year basis, coming in at $40.8 million ($0.34 per diluted share) from Q3 2012's $23.3 million ($0.20).

The most recent quarterly revenue figure exceeded the company's projections of $325 million to $345 million, while EPS was within the expected range of $0.30 to $0.35.

Cree also provided forward guidance. For its current quarter, the company believes it will earn $365 million to $385 million, with diluted EPS coming in at $0.34 to $0.40. On average, analysts had anticipated $366 million for the former, and $0.37 for the latter.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

4/29/2016 10:07 AM
CREE $24.79 Down -0.47 -1.86%
Cree, Inc. CAPS Rating: ****