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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.
Wolfspeed
Wolfspeed
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.