Edition:
United Kingdom

Cree Updates Q4 FY 2019 Financial Guidance


Tuesday, 11 Jun 2019 

June 11 (Reuters) - Cree Inc ::CREE UPDATES Q4 FY 2019 FINANCIAL GUIDANCE.SEES Q4 2019 GAAP LOSS PER SHARE $0.23 TO $0.27 FROM CONTINUING OPERATIONS.SEES Q4 REVENUE FROM CONTINUING OPERATIONS IN RANGE OF $245 MILLION TO $252 MILLION.SEES Q4 2019 NON-GAAP EARNINGS PER SHARE $0.08 TO $0.12 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE VIEW $0.14, REVENUE VIEW $268.6 MILLION -- REFINITIV IBES DATA.UPDATE TO Q4 GUIDANCE IS IN RESPONSE TO DECISION BIS OF U.S. DEPARTMENT OF COMMERCE TO ADD HUAWEI TECHNOLOGIES TO "ENTITY LIST".UPDATE TO Q4 GUIDANCE IS ALSO DUE TO SOFTER THAN ORIGINALLY EXPECTED DEMAND FOR CO'S LED PRODUCTS.REVENUE FOR PRODUCTS AND MATERIALS ASSOCIATED WITH HUAWEI'S WIRELESS INFRASTRUCTURE BUILD-OUT WERE EXPECTED TO BE UP TO $15 MILLION IN Q4.CREE - PENDING ANY FURTHER GUIDANCE FROM BIS, CO DOES NOT EXPECT TO SHIP ANY ADDITIONAL PRODUCTS IN Q4 FOR HUAWEI BUILD-OUT.CREE - TO PROVIDE UPDATES FOR IMPACT OF BIS ACTION, INCLUDING ABILITY TO APPLY FOR AND OBTAIN LICENSES FROM BIS TO SHIP PRODUCTS TO HUAWEI GOING FORWARD.UPDATING Q4 GUIDANCE FOR ITS LED PRODUCTS BUSINESS DUE TO SOFTER THAN ORIGINALLY EXPECTED DEMAND AS GLOBAL TRADE UNCERTAINTIES PERSIST.CREE - SEES Q4 LED PRODUCTS REVENUE IS EXPECTED TO BE BETWEEN $113 MILLION TO $117 MILLION.SEES Q4 WOLFSPEED REVENUE IS EXPECTED TO BE BETWEEN $132 MILLION TO $135 MILLION. 

Related Company News

Company Quote

47.1
0.0 +0.00%
23 Aug 2019