Revenue of $342 million, Cree announced Q3 results for 2017 fiscal year

Cree announced revenue of $342 million for Q3 (as of the end of March) in fiscal 2017, down 7% from the same period last year.

Cree's net loss for the quarter was $0.99 million, or equivalent to a loss of $1.02 per share, which was not as good as $152,000 in the same period last year, or $0.01 per share (EPS). Excluding non-existent projects, net profit shrank from $17 million last year to $749,000, and EPS shrank from $0.17 to $0.01, well below analysts' estimate of $0.07.

Looking ahead this season, Cree expects revenue to be between $3.4 and $360 million, roughly in line with analysts' estimates of $349 million. In addition, Cree estimates that EPS will be between $0.02 and $0.07.


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