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Dec 27, 2020
Wolfspeed Q2 2021 Earnings Report
Delivered strong results with sequential growth in revenue from continuing operations.
Key Takeaways
Cree, Inc. announced revenue from continuing operations of $127.0 million for its second quarter of fiscal 2021, ended December 27, 2020, a 5% increase compared to the second quarter of fiscal 2020, and a 10% increase compared to the first quarter of fiscal 2021.
Revenue from continuing operations increased by 5% compared to the second quarter of fiscal 2020.
Revenue from continuing operations increased by 10% compared to the first quarter of fiscal 2021.
GAAP net loss from continuing operations for the second quarter of fiscal 2021 was $54.3 million, or $0.49 per diluted share.
On a non-GAAP basis, net loss from continuing operations for the second quarter of fiscal 2021 was $26.6 million, or $0.24 per diluted share.
Wolfspeed
Wolfspeed
Forward Guidance
For its third quarter of fiscal 2021, Cree targets revenue from continuing operations in a range of $127 million to $133 million. GAAP net loss from continuing operations is targeted at $66 million to $71 million, or $0.59 to $0.64 per diluted share. Non-GAAP net loss from continuing operations is targeted to be in a range of $23 million to $28 million, or $0.21 to $0.25 per diluted share.