Cree Issues Q3 Guidance - Quick Facts

(RTTNews) - Cree, Inc. (CREE) announced, for its third quarter, non-GAAP net loss is targeted to be in a range of $16 million to $10 million, or $0.15 to $0.09 per share. Cree targets revenue in a range of $221 million to $229 million. The company said these targets reflect the January 27, 2020 decision by the Chinese government to extend the Lunar New Year holiday due to the coronavirus outbreak. Analysts polled by Thomson Reuters expect the company to report a loss per share of $0.07 on revenue of $237.9 million. Analysts' estimates typically exclude special items.

For the second-quarter, on a non-GAAP basis, net loss from continuing operations attributable to controlling interest was $10.4 million, or $0.10 per share, compared to non-GAAP net income from continuing operations attributable to controlling interest of $21.9 million, or $0.21 per share, prior year.

Second-quarter revenue was $239.9 million, a 14% decrease compared to revenue of $280.5 million, a year ago.