Cree announced the third quarter results of the 2018 fiscal year, up 4% from the same period.

Yesterday (24), CREE and Inc. (NASDAQ: CREE) disclosed the third quarter results of the fiscal year 2018 in March 25, 2018. The company achieved $356 million in revenue in the third quarter of fiscal 2018 (RMB 2 billion 244 million yuan), up 4% compared to the third quarter revenue of 342 million in the third quarter of fiscal 2017.

According to the GAAP, a net loss of $241 million (or $2.40 per diluted share) in the third quarter of fiscal 2018, including a loss of $247 million 500 thousand caused by Cree lighting products, was compared to the net loss of 99 million dollars (or diluted per share) in the third quarter of fiscal 2017. A loss of 1.02 dollars). According to Non-GAAP, the net income of the third quarter of fiscal 2018 was $3 million 800 thousand (or $0.04 per diluted earnings per share), compared with the net income of 700 thousand in the third quarter of fiscal 2017 (or $0.01 per diluted earnings per share).

Cree's current business is divided into three major sections, including lighting products (Lighting Products, mainly LED lighting systems and lamps), LED products (LED Products, mainly LED chips and LED components) and Wolfspeed services (mainly power devices, RF devices and silicon carbide materials). In the third quarter of fiscal 2018, the revenue of lighting products was 130 million 758 thousand US dollars, 15% in the third quarter of fiscal year 2017, 19.1% in gross profit, 23% in the same period in the previous year; LED product revenue was 143 million 298 thousand US dollars, compared with 2017 in the third quarter of fiscal year 2017, gross interest rate was 26.4%, the same period of last year was 24.7%; Wolfspeed realized revenue beauty. Yuan, an increase of 46% in the third quarter of fiscal 2017, with a gross margin of 48% and 47% in the same period of the previous year.

Gregg Lowe, chief executive of Cree, said: "both revenue and gross interest rate in the third quarter reached the maximum target range, and the earnings per share of non US general accounting standards (Non-GAAP) are significantly higher than the target range, and each business has increased. But we still have a lot of work to do, the third quarter is a good start, and we will continue to work on the new strategic direction in the future. "

Business outlook

In the fourth quarter of the 2018 fiscal year (by June 24, 2018), Cree, Inc. plans to achieve revenue targets of $390 million to $410 million. The net loss target was $34 million to $38 million, or $0.34 to $0.38 per share, according to the GAAP. The net income target is $5 million to $9 million, or $0.05 to $0.09 per share, according to the non US general accounting standards (Non-GAAP). According to the non American general accounting standards (Non-GAAP), the target income does not include a $43 million pre tax cost, a series of costs associated with stock pay, amortization or impairment of intangible assets related to mergers and acquisitions, the acquisition of the radio frequency power business of Infineon, and the related cost of restructuring of the company's lighting products. Both the United States general accounting standards (GAAP) and the non American general accounting standards (Non-GAAP) objectives do not include any estimated changes in the fair value of the Cree and Inc. in the Longda investment. (compiled: LEDinside Nicole)

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