CREE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CREE, following the Company's announcement of its financial results on October 17, 2017, for the first quarter fiscal 2018. The maker of energy-efficient lighting reported a y-o-y decline in revenue and earnings, while it also provided guidance for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CREE. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CREE

Earnings Reviewed

Cree's revenue for the first quarter of fiscal 2018 ended September 24, 2017, was $360 million which represented a 3% decrease compared to revenue of $371 million for Q1 FY17. The Company's revenue number fell short of analysts' estimates of $361.3 million.

For Q1 FY18, Cree reported gross profit of $100.33 million compared to gross profit of $109.93 million for Q1 FY17. In the reported quarter, the Company posted operating loss of $14.11 million versus operating loss of $5.21 million for the year-earlier same quarter.

Cree's GAAP net loss totaled $19.86 million, or $0.20 per diluted share, for Q1 FY18 compared to GAAP net income of $566,000, or $0.01 per diluted share, for Q1 FY17. On a non-GAAP basis, the Company's net income for the reported quarter was $4 million, or $0.04 per diluted share, compared to non-GAAP net income for the prior year's corresponding quarter of $15 million, or $0.15 per diluted share. Cree's earnings topped Wall Street's estimates of $0.03 per share.

Cree's Segment Results

During Q1 FY18, the Company's Lighting Products' revenue totaled $149.72 million compared to $183.84 million in Q1 FY17, at the lower end of the Company's targeted range. The segment's Commercial lighting revenue fell slightly on a y-o-y basis due to continued weakness in North America market, the lingering near-term effect of the quality hold that occurred during FY17 and from project delays due to the hurricanes at Florida, Texas, and Puerto Rico. Lighting Products gross profit decreased to $31.88 million compared to $49.29 million in Q1 FY17 for a 21.3% gross margin, representing a 550 basis point y-o-y decrease.

For Q1 FY18, LED Products' revenue grew 5% to $144.52 million on a y-o-y basis and was at the upper end of the Company's targeted range. The segment's gross profit declined 7% to $38.81 million on a y-o-y basis for a 26.9% gross margin.

During Q1 FY18, the Wolfspeed division's revenue surged 33% to $66.15 million on a y-o-y basis compared to $49.90 million in Q1 FY17. The segment's gross profit advanced 38% to $32.40 million versus $23.46 million in the year-ago comparable period, while its gross margin came in at 49.0%, adding 200 basis points on a y-o-y basis.

Cash Matters

Cree ended Q1 FY18 with $484 million in cash and investments net of line and credit borrowings, an $18 million increase sequentially. At the end of the reported quarter, the Company had $141 million outstanding in its line of credit. During Q1 FY18, Cree's cash from operations was $54 million and capital expenditures were $39 million, including patents, which resulted in a free cash flow of $15 million.

Cree's days' sales outstanding increased 2 days from June 2017 to 39 days at the end of September 2017. The Company's Inventory days on hand declined 2 days from June to 96 days at the end of the reported quarter. The inventory's decrease primarily related to a reduction in lighting finished goods.

Business Outlook

For its second quarter of fiscal 2018 ending December 24, 2017, Cree is forecasting revenue in a range of $340 million to $360 million. The Company is expecting GAAP net loss in the band of $25 million to $31 million, or $0.25 to $0.31 per diluted share, for the upcoming quarter, while its non-GAAP net income is targeted to be in a range of $1 million loss to a $4 million profit, or $0.01 loss per diluted share to $0.04 earnings per diluted share.

Stock Performance

At the closing bell, on Thursday, October 19, 2017, Cree's stock marginally advanced 0.06%, ending the trading session at $34.18. A total volume of 7.20 million shares have exchanged hands, which was higher than the 3-month average volume of 1.57 million shares. The Company's stock price soared 30.11% in the last three months, 38.61% in the past six months, and 52.52% in the previous twelve months. Moreover, the stock surged 29.52% since the start of the year. The stock currently has a market cap of $3.32 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 478381

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Earnings Review and Free Research Report: Cree Reported Better than Expected Earnings

LONDON, UK / ACCESSWIRE / October 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Cree, Inc. (NASDAQ: CREE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CREE, following the Company's announcement of its financial results on October 17, 2017, for the first quarter fiscal 2018. The maker of energy-efficient lighting reported a y-o-y decline in revenue and earnings, while it also provided guidance for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CREE. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CREE

Earnings Reviewed

Cree's revenue for the first quarter of fiscal 2018 ended September 24, 2017, was $360 million which represented a 3% decrease compared to revenue of $371 million for Q1 FY17. The Company's revenue number fell short of analysts' estimates of $361.3 million.

For Q1 FY18, Cree reported gross profit of $100.33 million compared to gross profit of $109.93 million for Q1 FY17. In the reported quarter, the Company posted operating loss of $14.11 million versus operating loss of $5.21 million for the year-earlier same quarter.

Cree's GAAP net loss totaled $19.86 million, or $0.20 per diluted share, for Q1 FY18 compared to GAAP net income of $566,000, or $0.01 per diluted share, for Q1 FY17. On a non-GAAP basis, the Company's net income for the reported quarter was $4 million, or $0.04 per diluted share, compared to non-GAAP net income for the prior year's corresponding quarter of $15 million, or $0.15 per diluted share. Cree's earnings topped Wall Street's estimates of $0.03 per share.

Cree's Segment Results

During Q1 FY18, the Company's Lighting Products' revenue totaled $149.72 million compared to $183.84 million in Q1 FY17, at the lower end of the Company's targeted range. The segment's Commercial lighting revenue fell slightly on a y-o-y basis due to continued weakness in North America market, the lingering near-term effect of the quality hold that occurred during FY17 and from project delays due to the hurricanes at Florida, Texas, and Puerto Rico. Lighting Products gross profit decreased to $31.88 million compared to $49.29 million in Q1 FY17 for a 21.3% gross margin, representing a 550 basis point y-o-y decrease.

For Q1 FY18, LED Products' revenue grew 5% to $144.52 million on a y-o-y basis and was at the upper end of the Company's targeted range. The segment's gross profit declined 7% to $38.81 million on a y-o-y basis for a 26.9% gross margin.

During Q1 FY18, the Wolfspeed division's revenue surged 33% to $66.15 million on a y-o-y basis compared to $49.90 million in Q1 FY17. The segment's gross profit advanced 38% to $32.40 million versus $23.46 million in the year-ago comparable period, while its gross margin came in at 49.0%, adding 200 basis points on a y-o-y basis.

Cash Matters

Cree ended Q1 FY18 with $484 million in cash and investments net of line and credit borrowings, an $18 million increase sequentially. At the end of the reported quarter, the Company had $141 million outstanding in its line of credit. During Q1 FY18, Cree's cash from operations was $54 million and capital expenditures were $39 million, including patents, which resulted in a free cash flow of $15 million.

Cree's days' sales outstanding increased 2 days from June 2017 to 39 days at the end of September 2017. The Company's Inventory days on hand declined 2 days from June to 96 days at the end of the reported quarter. The inventory's decrease primarily related to a reduction in lighting finished goods.

Business Outlook

For its second quarter of fiscal 2018 ending December 24, 2017, Cree is forecasting revenue in a range of $340 million to $360 million. The Company is expecting GAAP net loss in the band of $25 million to $31 million, or $0.25 to $0.31 per diluted share, for the upcoming quarter, while its non-GAAP net income is targeted to be in a range of $1 million loss to a $4 million profit, or $0.01 loss per diluted share to $0.04 earnings per diluted share.

Stock Performance

At the closing bell, on Thursday, October 19, 2017, Cree's stock marginally advanced 0.06%, ending the trading session at $34.18. A total volume of 7.20 million shares have exchanged hands, which was higher than the 3-month average volume of 1.57 million shares. The Company's stock price soared 30.11% in the last three months, 38.61% in the past six months, and 52.52% in the previous twelve months. Moreover, the stock surged 29.52% since the start of the year. The stock currently has a market cap of $3.32 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 478381

LONDON, UK / ACCESSWIRE / October 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Cree, Inc. (NASDAQ: CREE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CREE, following the Company's announcement of its financial results on October 17, 2017, for the first quarter fiscal 2018. The maker of energy-efficient lighting reported a y-o-y decline in revenue and earnings, while it also provided guidance for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CREE. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CREE

Earnings Reviewed

Cree's revenue for the first quarter of fiscal 2018 ended September 24, 2017, was $360 million which represented a 3% decrease compared to revenue of $371 million for Q1 FY17. The Company's revenue number fell short of analysts' estimates of $361.3 million.

For Q1 FY18, Cree reported gross profit of $100.33 million compared to gross profit of $109.93 million for Q1 FY17. In the reported quarter, the Company posted operating loss of $14.11 million versus operating loss of $5.21 million for the year-earlier same quarter.

Cree's GAAP net loss totaled $19.86 million, or $0.20 per diluted share, for Q1 FY18 compared to GAAP net income of $566,000, or $0.01 per diluted share, for Q1 FY17. On a non-GAAP basis, the Company's net income for the reported quarter was $4 million, or $0.04 per diluted share, compared to non-GAAP net income for the prior year's corresponding quarter of $15 million, or $0.15 per diluted share. Cree's earnings topped Wall Street's estimates of $0.03 per share.

Cree's Segment Results

During Q1 FY18, the Company's Lighting Products' revenue totaled $149.72 million compared to $183.84 million in Q1 FY17, at the lower end of the Company's targeted range. The segment's Commercial lighting revenue fell slightly on a y-o-y basis due to continued weakness in North America market, the lingering near-term effect of the quality hold that occurred during FY17 and from project delays due to the hurricanes at Florida, Texas, and Puerto Rico. Lighting Products gross profit decreased to $31.88 million compared to $49.29 million in Q1 FY17 for a 21.3% gross margin, representing a 550 basis point y-o-y decrease.

For Q1 FY18, LED Products' revenue grew 5% to $144.52 million on a y-o-y basis and was at the upper end of the Company's targeted range. The segment's gross profit declined 7% to $38.81 million on a y-o-y basis for a 26.9% gross margin.

During Q1 FY18, the Wolfspeed division's revenue surged 33% to $66.15 million on a y-o-y basis compared to $49.90 million in Q1 FY17. The segment's gross profit advanced 38% to $32.40 million versus $23.46 million in the year-ago comparable period, while its gross margin came in at 49.0%, adding 200 basis points on a y-o-y basis.

Cash Matters

Cree ended Q1 FY18 with $484 million in cash and investments net of line and credit borrowings, an $18 million increase sequentially. At the end of the reported quarter, the Company had $141 million outstanding in its line of credit. During Q1 FY18, Cree's cash from operations was $54 million and capital expenditures were $39 million, including patents, which resulted in a free cash flow of $15 million.

Cree's days' sales outstanding increased 2 days from June 2017 to 39 days at the end of September 2017. The Company's Inventory days on hand declined 2 days from June to 96 days at the end of the reported quarter. The inventory's decrease primarily related to a reduction in lighting finished goods.

Business Outlook

For its second quarter of fiscal 2018 ending December 24, 2017, Cree is forecasting revenue in a range of $340 million to $360 million. The Company is expecting GAAP net loss in the band of $25 million to $31 million, or $0.25 to $0.31 per diluted share, for the upcoming quarter, while its non-GAAP net income is targeted to be in a range of $1 million loss to a $4 million profit, or $0.01 loss per diluted share to $0.04 earnings per diluted share.

Stock Performance

At the closing bell, on Thursday, October 19, 2017, Cree's stock marginally advanced 0.06%, ending the trading session at $34.18. A total volume of 7.20 million shares have exchanged hands, which was higher than the 3-month average volume of 1.57 million shares. The Company's stock price soared 30.11% in the last three months, 38.61% in the past six months, and 52.52% in the previous twelve months. Moreover, the stock surged 29.52% since the start of the year. The stock currently has a market cap of $3.32 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 478381

Source URL: https://marketersmedia.com/earnings-review-and-free-research-report-cree-reported-better-than-expected-earnings/253093

Source: AccessWire

Release ID: 253093


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