Cree Inc. Q1 Income Retreats 29%

(RTTNews) - Cree Inc. (CREE) released earnings for first quarter that fell compared to the same period last year.

The company said its bottom line totaled $15.21 million, or $0.15 per share. This was lower than $21.33 million, or $0.21 per share, in last year's first quarter.

Analysts had expected the company to earn $0.11 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 15.8% to $321.33 million. This was down from $381.55 million last year.

Cree Inc. earnings at a glance:

-Earnings (Q1): $15.21 Mln. vs. $21.33 Mln. last year. -Earnings Decline (Y-o-Y): -28.7% -EPS (Q1): $0.15 vs. $0.21 last year. -EPS Decline (Y-o-Y): -28.6% -Analysts Estimate: $0.11 -Revenue (Q1): $321.33 Mln vs. $381.55 Mln last year. -Revenue Change (Y-o-Y): -15.8%

-Guidance: Next quarter EPS guidance: $0.13 - $0.19 Next quarter revenue guidance: $360 - $380 Mln