Cree Reports Financial Results for FY3Q20

Cree posted the financial results of the third quarter of its fiscal 2020, ended March 29, 2020. The company registered a revenue of US$215.5 million, representing an on-year decrease of 21% and a 10% decrease compared to the second quarter of fiscal 2020.

GAAP net loss from continuing operations attributable to controlling interest for the third quarter was US$61.6 million, or US$0.57 per diluted share. On a non-GAAP basis, net loss from continuing operations attributable to controlling interest for the third quarter of fiscal 2020 was US$15.5 million, or US$0.14 per diluted share.

Despite the uncertainty resulted from the coronavirus epidemic, Cree still announced its financial guidance for its fourth quarter of fiscal 2020. The company targets revenue in a range of US$185 million to US$215 million.

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