Cree, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months December 31, 2018; Provides Earnings Guidance for the Third Quarter of Fiscal Year Ending June 30, 2019; Reports Impairment Charges for the Third Quarter of Fiscal Year Ending June 30, 2019
January 30, 2019 at 09:01 pm
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Cree, Inc. reported unaudited consolidated earnings results for the second quarter and six months December 31, 2018. For the quarter, the company reported Revenue, net of USD 413,036,000 against USD 367,870,000 a year ago. Operating income was USD 7,406,000 against loss of USD 26,303,000 a year ago. Net loss was USD 2,481,000 against income of USD 13,752,000 a year ago.
For the six months, the company reported Revenue, net of USD 821,303,000 against USD 728,268,000 a year ago. Operating income was USD 7,931,000 against loss of USD 40,411,000 a year ago. Net loss was USD 13,614,000 against USD 6,120,000 a year ago.
The company provided earnings guidance for the third quarter of fiscal year ending June 30, 2019. For the quarter, the company targets revenue in a range of USD 385 million to USD 405 million. GAAP net loss is targeted at USD 5 million to USD 13 million, or USD 0.05 to USD 0.12 per diluted share.
For the quarter, the company reported amortization or impairment of acquisition-related intangibles of USD 6,345,000 against USD 6,792,000 a year ago. Loss on disposal or impairment of long-lived assets was USD 178,000 against USD 4,262,000 a year ago.
Wolfspeed, Inc. is a semiconductor company focused on silicon carbide technologies. The Company provides solutions for efficient energy consumption and a sustainable future. Its product families include silicon carbide material and power devices targeted for various applications such as electric vehicles, fast charging, and renewable energy and storage. Its products include Discrete MOSFETs, Discrete Schottky Diodes, Bare Die MOSFETs, Bare Die Schottky Diodes, Power Modules, Gate Driver Boards, Evaluation Kits, Reference Designs and Materials Products. The Companyâs silicon carbide fabrication facility is located in Marcy, New York.
Cree, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months December 31, 2018; Provides Earnings Guidance for the Third Quarter of Fiscal Year Ending June 30, 2019; Reports Impairment Charges for the Third Quarter of Fiscal Year Ending June 30, 2019
WOLFSPEED, INC. 
