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Mar 28, 2021
Wolfspeed Q3 2021 Earnings Report
Reported strong top line performance and continued to execute strategy.
Key Takeaways
Cree, Inc. announced revenue from continuing operations of $137.3 million for its third quarter of fiscal 2021, ended March 28, 2021, representing a 21% increase compared to the third quarter of fiscal 2020.
Revenue from continuing operations increased by 21% compared to the third quarter of fiscal 2020.
GAAP net loss from continuing operations for the third quarter of fiscal 2021 was $66.5 million, or $0.59 per diluted share.
Non-GAAP net loss from continuing operations for the third quarter of fiscal 2021 was $24.7 million, or $0.22 per diluted share.
Completed the sale of the LED Products segment to SMART Global Holdings, Inc.
Forward Guidance
For its fourth quarter of fiscal 2021, Cree targets revenue in a range of $142 million to $148 million. GAAP net loss is targeted at $68 million to $73 million, or $0.59 to $0.63 per diluted share. Non-GAAP net loss is targeted to be in a range of $25 million to $30 million, or $0.22 to $0.26 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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