Key Developments: Cree Inc (CREE.O)

CREE.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

Cree Inc announces auditor change - Form 8-K
Monday, 2 Dec 2013 05:18pm EST 

Cree Inc:Says on Nov. 25, the audit committee approved the engagement of PricewaterhouseCoopers LLP as the company’s independent registered public accountant.Says this action effectively dismissed Ernst & Young LLP as the company’s principal independent registered public accountant as of Nov. 25.  Full Article

Cree Inc Issues Q2 2014 Guidance; Earnings Guidance Below Analysts' Estimates
Tuesday, 22 Oct 2013 04:01pm EDT 

Cree Inc announced that for the second quarter of 2014, it expects revenue in a range of $400 million to $420 million, GAAP net income is targeted at $26 million to $32 million, or $0.21 to $0.26 per diluted share and Non-GAAP net income is targeted in a range of $44 million to $50 million, or $0.36 to $0.41 per diluted share (EPS). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $414 million, net income of $ 52 million and EPS of $0.44 for the second quarter of 2014.  Full Article

Cree Inc Issues Q1 2014 Guidance; Earnings Guidance Below Analysts' Estimates
Tuesday, 13 Aug 2013 04:01pm EDT 

Cree Inc announced that for the first quarter of 2014, Cree targets revenue in a range of $380 million to $400 million. GAAP net income is targeted at $28 million to $34 million, or $0.23 to $0.28 per diluted share. Non-GAAP net income is targeted in a range of $44 million to $50 million, or $0.36 to $0.41 per diluted share. The GAAP and non-GAAP net income targets are based on an estimated 122.4 million diluted weighted average shares. Targeted non-GAAP earnings exclude expenses related to the amortization of acquired intangibles and stock-based compensation expense of $0.13 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $398 million, net income of $51 million and EPS of $0.43 for first quarter of 2014.  Full Article

Cree Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates
Tuesday, 23 Apr 2013 04:01pm EDT 

Cree Inc announced that for fourth quarter of 2013, it expects revenue in a range of $365 million to $385 million. GAAP net income is targeted at $25 million to $31 million, or $0.20 to $0.26 per diluted share. Non-GAAP net income is targeted in a range of $41 million to $47 million, or $0.34 to $0.40 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $366 million, net income of $44 million and EPS of $0.36 for fourth quarter of 2013.  Full Article

Cree Inc Appoints Mike McDevitt Chief Financial Officer
Monday, 4 Feb 2013 09:00am EST 

Cree Inc announced the appointment of Mike McDevitt as Executive Vice President and Chief Financial Officer, effective immediately. McDevitt brings more than two decades of finance and operations leadership and has served as Vice President and Interim CFO of the Company since May 22, 2012.  Full Article

Cree Inc Issues Q3 2013 Guidance Above Analysts' Estimates
Tuesday, 22 Jan 2013 04:00pm EST 

Cree Inc announced that for the third quarter of 2013, it targets revenue in a range of $325 million to $345 million, GAAP net income is targeted at $17 million to $23 million, or $0.15 to $0.20 per diluted share. Non-GAAP net income is targeted in a range of $35 million to $41 million, or $0.30 to $0.35 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $323 million, net income of $31 million and EPS of $0.28 for the third quarter of 2013.  Full Article

Weak LED component business weighs on Cree forecast

- Cree Inc , a maker of light-emitting diodes, forecast current-quarter revenue and adjusted profit below analysts' expectations, hurt by continued weakness in its LED component business.

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