Cree Reports Financial Results for the Second Quarter of Fiscal Year 2017
DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced consolidated revenue of $347 million from continuing operations, and $54 million from discontinued operations, for a combined revenue of $401 million for its second quarter of fiscal 2017. This represents an 8% decrease compared to combined revenue of $436 million ($394 million from continuing operations and $42 million from discontinued operations) for the second quarter of fiscal 2016 and an 8% increase compared to the first quarter of fiscal 2017. Combined GAAP net income for the second quarter of fiscal 2017 was $6 million, or $0.06 per diluted share, compared to combined GAAP net income of $13 million, or $0.13 per diluted share, for the second quarter of fiscal 2016. On a non-GAAP basis, combined net income for the second quarter of fiscal 2017 was $30 million, or $0.30 per diluted share, compared to combined non-GAAP net income for the second quarter of fiscal 2016 of $28 million, or $0.28 per diluted share.
- Published: 25 January 2017
- Written by Editor