Shares of Cree, Inc. (NASDAQ: CREE) closed the trading at a price of $59.58 with the positive change of +1.00%. In the past session approximately 927.39K shares were exchanged against the average daily trading volume of 1.71M shares. The stock touched to the maximum level of $59.68, and it reached the lower level of $57.71 in past session. The stock’s market capitalization has now valued at $6.55B. The stock’s low price in its 52 week is $33.72 per share while $69.21 as the 52 week high price.
Cree, Inc. (NASDAQ: CREE) recently reported financial and quarterly earning results for its 3rd quarter of fiscal 2019, ended March 31, 2019. Revenue from continuing operations for the third quarter of fiscal 2019 was $274M, which represents a 22% increase contrast to revenue from continuing operations of $225M for the third quarter of fiscal 2018. GAAP net loss from continuing operations for the third quarter of fiscal 2019 was $22M, or $0.22 per diluted share. This compares to a GAAP net loss from continuing operations of $10M, or $0.10 per diluted share for the third quarter of fiscal 2018. On a non-GAAP basis, net income from continuing operations for the third quarter of fiscal 2019 was $20M, or $0.20 per diluted share, contrast to non-GAAP net income from continuing operations for the third quarter of fiscal 2018 of $17M, or $0.17 per diluted share.
Business Outlook:
For its fourth quarter of fiscal 2019 ending June 30, 2019, Cree targets revenue from continuing operations in a range of $263M to $271M. GAAP net loss from continuing operations is targeted at $19M to $24M, or $0.18 to $0.23 per diluted share. Non-GAAP net income from continuing operations is targeted to be in a range of $12M to $17M, or $0.12 to $0.16 earnings per diluted share. Targeted non-GAAP income from continuing operations excludes $36M of estimated expenses, net of tax, related to stock-based compensation expense, the amortization of debt issuance costs and discount, costs associated with corporate restructuring, interest accretion on our convertible notes’ issue costs and fair value adjustments, and transaction-related costs.
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