Cree revenue, poor financial measurement, after diving nearly 10%

The United States LED epitaxial Dachang CREE on Tuesday U.S. stocks announced late before the season, despite the turnaround, but with two digit revenue decline, this season outlook is poor and announced the suspension of mergers and acquisitions are disappointing, resulting in after hours stock price plummeted.

Compared with the same period last year, revenue decreased by 16% to $321 million, net profit of $566 thousand, better than last year's loss of $25 million. Excluding excluding some items, earnings per share (EPS) fell from $0.21 last year to $0.15. Control analyst estimates revenue, EPS were 323 million and $0.1. (Wall Street Journal)

Cree CEO Chuck Swoboda said in the earnings release, in view of the new management team is still in the adaptation stage, the moment will focus on the operation of the existing lighting business, and channel partners to rebuild relations, as for foreign mergers and acquisitions will be suspended.

Looking forward to this season, Cree expects revenue of between $3.1-3.8 billion, adjusted EPS between 0.04-0.1 U.S. dollars, compared to analysts estimate revenue, EPS were $337 million and $0.13.

Cree sale of power management and RF products division Wolf speed will be closed in December, the above test has been the first to exclude Wolf speed. Cree in the normal trading stocks rose 1.61%, but after it is down 9.72%, temporarily reported $22.75.

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