Key Developments: Cree Inc (CREE.O)
62.35USD
14 Jun 2013
$0.07 (+0.11%)
$62.28
$62.29
$62.82
$61.76
1,076,795
2,182,845
$64.32
$22.25
Latest Key Developments (Source: Significant Developments)
Cree, Inc. Issues Q2 2012 Guidance; Earnings Guidance Below Analysts' Estimates
Cree, Inc. announced that for the second quarter of 2012, it expects revenue to be in a range of $300-to $320 million with GAAP net income is targeted at $13-$18 million, or $0.11 to $0.15 per diluted share. Non-GAAP net income is targeted in a range of $29-$33 million, or $0.25 to $0.28 per diluted share. Targeted non-GAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.04 per diluted share, stock based compensation expense of $0.09 per diluted share and the Ruud Lighting finished goods inventory step up of $0.01 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $310 million, net income of $40 million and EPS of $0.33 for the second quarter of 2012. Full Article
Cree, Inc. Raises Q1 2012 Revenue Guidance; Sees Q1 2012 EPS Guidance At Low End Of Prior Range-Conference Call
Cree, Inc. announced that it now target first quarter 2012 revenue to be in a range of $265 million to $275 million, which is an increase from prior target range of $245 million to $255 million. This increase in revenue includes the incremental revenue from Ruud Lighting for the balance of the quarter and the reduced revenue from the elimination of sales of LED components to Ruud Lighting. GAAP EPS target is $0.08 to $0.11 per diluted share and non-GAAP basis net income is targeted to be at the lower end of the previous range of $0.25 to $0.28 per diluted share. Full Article
Cree, Inc. Acquires Ruud Lighting, Inc.
Cree, Inc. announced the acquisition of Ruud Lighting, Inc. at an estimated net cost of approximately $525 million. The companies’ shared focus on LED-based systems has led to thousands of LED lighting installations over the past several years. Cree today acquired all of the outstanding stock of Ruud Lighting for an estimated net cost of approximately $525 million, comprised of $372 million in cash, $211 million in stock (valued at today’s market closing price of $34.74/share), $85 million paid concurrently with the acquisition to retire outstanding debt, offset by tax benefits noted below. The stock portion is comprised of 6,074,833 Cree shares. Full Article
Cree, Inc. Issues Q1 2012 Guidance; Earnings Guidance Below Analysts' Estimates
Cree, Inc. announced that for first quarter of 2012, it expects revenue in the range of $245-$255 million. GAAP net income is to be in the range of $16-$19 million, or $0.14-$0.17 per diluted share. Non-GAAP net income is in the range of $28-$31 million, or $0.25-$0.28 per diluted share (EPS). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $253 million, net income of $35 million and EPS of $0.31 for first quarter of 2012. Full Article
BRIEF-Cree shares down 3.9 pct in premarket trading
NEW YORK, May 14 - Cree Inc : * Shares down 3.9 percent in premarket trading
Earnings vs. 
Estimates
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