Wednesday, June 4, 2025

Cree Anticipates Positive Developments in Upcoming Quarter Despite First Quarter Loss

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Cree Anticipates Positive Developments in Upcoming Quarter Despite First Quarter Loss
Cree, a leader in LED lighting, reported a revenue of $425.5 million for the first quarter of fiscal 2016, marking a 1% decrease from the same period in the previous year. The company faced a GAAP net loss of $23.6 million, contrasting sharply with a net income of $11.1 million in Q1 of fiscal 2015. Despite the losses, Cree’s gross margin improved significantly, increasing from 20.1% in the prior quarter to 31.0%. CEO Chuck Swoboda expressed optimism about the company’s future, noting strong demand in the commercial LED market and recent product innovations, including new LED downlights and bulbs. For Q2, Cree projects revenue between $425 million and $445 million, with targeted GAAP and non-GAAP net income between $1 million to $7 million and $21 million to $27 million, respectively.
Original source:
https://www.ledinside.com/news/2025/06/despite_net_loss_for_1q16_cree_projects_improvements_in_coming_quarter

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