Cree in the first quarter of fiscal year 2018 performance, product revenue increased slightly by LED

Yesterday (17 day), CREE, Inc. (NASDAQ: CREE) the disclosure of September 24, 2017 until the first quarter of fiscal year 2018 results. The first quarter of fiscal year 2018 revenues of $360 million (about 2 billion 380 million yuan), and the first quarter of fiscal year 2017 compared with revenue of $371 million, down 3%, compared with 2017 in the fourth quarter of fiscal year $359 million, to achieve a slight increase.

According to U.S. GAAP (GAAP) calculations, the first quarter of fiscal year 2018 net loss of $20 million (or $0.02 loss per diluted share), compared with the first quarter of fiscal year 2017 net income of $566 thousand (or $0.01 per diluted share). According to the non GAAP (Non-GAAP) calculations, the first quarter of fiscal year 2018 net income of $4 million (or $0.04 per diluted share), compared with the first quarter of fiscal year 2017, net income of $15 million (or $0.15 per diluted share).

The Cree business is divided into three sections, including lighting products (Lighting Products, mainly covers the LED lighting system and lamp), LED (LED Products, LED and LED mainly covers the chip element) and Wolfspeed (business mainly covers power devices, RF devices and silicon carbide materials). The first quarter of fiscal year 2018, lighting product revenue was $149 million 724 thousand, compared to the first quarter of fiscal year 2017 fell 19%, gross margin was 21.3%, compared to 26.8% last year; LED product revenue was $144 million 520 thousand, compared with growth of 5% in the first quarter of fiscal year 2017, gross margin was 26.9%, compared to 30.4% last year; Wolfspeed revenues of $66 million 154 thousand, representing a growth of 33% the first quarter of fiscal year 2017, gross margin was 49%, compared to 47% last year.

In the second quarter of fiscal 2018 (as of December 24, 2017), Cree, $340 million to $360 million in revenue targets Inc. According to U.S. GAAP net loss (GAAP) calculation target of $25 million to $31 million, or $0.25 diluted loss per share to $0.31. According to the non GAAP (Non-GAAP) calculation, net income target for -100 million US dollars to 4 million US dollars, or diluted earnings per share of $-0.01 to $0.04. According to the non GAAP (Non-GAAP) calculation, target income does not include $29 million pre tax expenses, stock based compensation expense, amortization of acquisition related intangible assets impairment or other related. The U.S. general accounting standards (GAAP) and non GAAP (Non-GAAP) are not including Cree, Inc. in the prediction of any change in fair value of investment in the lunda. (compiled: LEDinside Nicole)

LED more information, please click on the LED network or the WeChat public account (cnledw2013).