Cree announced the 2016 fiscal year fourth quarter revenue increased by 6%

CREEInc. (NASDAQ:CREE) in the United States Eastern time August 16, 2016 announced that as of June 26, 2016, the company's fiscal 2016 fourth quarter revenue of $388 million, and the fourth quarter of fiscal 2015 revenue of $382 million compared to an increase of 2%, compared with 2016 growth in the third quarter of fiscal 6%. 2016 fiscal year, the U.S. GAAP (GAAP) net loss of $11 million in the fourth quarter, compared with the U.S. GAAP (GAAP) net loss of $2015 in the fourth quarter of fiscal year. According to the non GAAP (non-GAAP) calculation, net income in the fourth quarter of fiscal year 2016 was $19 million, compared with the fourth quarter of fiscal year 2015 non GAAP net loss of $21 million (non-GAAP).

Outlook for fiscal 2016, Cree expects revenue will reach $1 billion 620 million, compared with $2015 in fiscal year revenue fell by $1% compared to $1 billion 630 million. 2016 fiscal year, the U.S. general accounting standards (GAAP) net loss of $22 million, compared with fiscal year 2015 U.S. general accounting standards (GAAP) net loss of $65 million. According to non US GAAP (non-GAAP) calculation, fiscal year 2016 net income of $88 million, compared with fiscal year 2015 non GAAP (non-GAAP) net income of $71 million.

2016 fiscal year fourth quarter financial indicators

According to the U.S. general accounting standards (GAAP) calculation, the fourth quarter of fiscal year 2016 gross profit of 29.1%, a decline. According to non US GAAP (non-GAAP) calculation, the fourth quarter of fiscal year 2016 gross profit of $30.8%, growth;

The total amount of cash and investments of $605 million, $15 million less than the third quarter of fiscal year 2016;

The net accounts receivable of $166 million, $13 million less than the third quarter of fiscal year 2016, accounts receivable turnover was 38 days;

The inventory was $300 million, an increase of $2 million over the third quarter of fiscal year 2016, the equivalent of 98 days of inventory;

The free cash flow of $41 million.

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