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Jun 28, 2020
Wolfspeed Q4 2020 Earnings Report
Cree's Q4 2020 financial results were reported, showing a decrease in revenue compared to the previous year, along with a GAAP net loss.
Key Takeaways
Cree, Inc. reported Q4 fiscal year 2020 revenue of $205.7 million, an 18% decrease compared to Q4 2019. The company's GAAP net loss was $39.5 million, or $0.36 per diluted share, compared to a net loss of $34.5 million, or $0.33 per diluted share, in the same quarter of the previous year. Non-GAAP net loss was $20.0 million, or $0.18 per diluted share, compared to a non-GAAP net income of $11.6 million, or $0.11 per diluted share, in Q4 2019.
Revenue for Q4 2020 was $205.7 million, down 18% year-over-year.
GAAP net loss from continuing operations was $39.5 million, or $0.36 per diluted share.
Non-GAAP net loss from continuing operations was $20.0 million, or $0.18 per diluted share.
Fiscal 2020 revenue was $903.9 million, a 16% decrease compared to fiscal 2019.
Wolfspeed
Wolfspeed
Forward Guidance
For its first quarter of fiscal 2021, Cree targets revenue in a range of $203 million to $217 million. GAAP net loss is targeted at $83 million to $87 million, or $0.76 to $0.79 per diluted share. Non-GAAP net loss is targeted to be in a range of $22 million to $26 million, or $0.20 to $0.24 per diluted share.