Cree Inc. Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - Cree, Inc. (CREE) reported fourth-quarter GAAP net income of $30 million, or $0.24 per share, compared to $28 million, or $0.23 per share, prior year. On a non-GAAP basis, net income for the fourth quarter of fiscal 2014 was $51 million, or $0.42 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.41 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $436 million; a 16% increase compared to revenue of $375 million reported for the fourth quarter of prior year. Analysts expected revenue of $444.11 million.

For the first-quarter, Cree targets revenue in a range of $440 million to $465 million. GAAP net income is targeted at $30 million to $37 million, or $0.25 to $0.30 per share. Non-GAAP net income is targeted in a range of $48 million to $55 million, or $0.40 to $0.45 per share. Analysts expect the company to report first-quarter profit per share of $0.46 on revenue of $469.78 million.