Cree (CREE $33.87 +4.38) reported fourth quarter earnings of $0.28 per
share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus
Estimate of $0.27.
Revenues fell 8.1% year/year to $243.1 million versus the $233.8 million
consensus; non-GAAP gross margin of 38.8% versus 40% guidance.
For the first quarter, the company expects to see earnings in the range of $0.25
to $0.28, excluding non-recurring items, versus $0.31 Capital IQ Consensus
Estimate. On the top line, the company expects revenues of $245 million to $255
million versus the $252.98 million Capital IQ Consensus Estimate.
"As we look ahead to Q1, demand has improved from earlier in the calendar year
and we are well positioned to continue to lead the LED lighting revolution."






